Ethereum Sitting At Initial Support ZoneEthereum / TetherUSBINANCE:ETHUSDTDukesMarketAnalysisMedium-Term Structure Still Trying To Hold ETH remains within a medium-term recovery structure for now, continuing to hold above the recent higher low around $2,220. However, momentum has clearly slowed after repeated failures near the $2,420 resistance region. Longer-Term Trend Still Cautious Despite the recent bounce, the broader structure still carries caution. The preceding trend was heavily bearish, while price continues trading below the downward-sloping 200-Day EMA. Resistance Continues To Hold The $2,420 region has now rejected price multiple times, showing sellers are still active overhead. ETH is also struggling to reclaim the 100-Day EMA, with both major averages still sloping downward. Momentum Indicators Weakening RSI has slipped back below 50 while StochRSI sits in oversold territory. Bulls will likely need to defend the current $2,250 support area soon, otherwise the chances of a deeper retracement begin increasing. In Summary Ethereum is currently sitting at an important initial support region around $2,250 after struggling to break through the key $2,420 resistance zone. While the medium-term structure still technically remains bullish, longer-term signals continue showing weakness, with ETH trading below the downward-sloping 200-Day EMA and struggling to reclaim the 100-Day EMA. Momentum indicators have also weakened, with RSI falling back below 50. Bulls likely need to defend current support soon to avoid increasing risks of a larger pullback developing.