Ethereum Price Trapped in Symmetrical Triangle as Monthly Chart Shows Bearish Double Top

Ethereum ETH $2 418 24h volatility: 0.9% Market cap: $291.88 B Vol. 24h: $15.69 B is flashing a long-term warning as its monthly chart reveals a double top formation near $4,000, a key resistance area rejected twice since 2021.

The asset is still trading above the multi-year trendline that began from the 2020 lows. Dynamic support is seen around the 50-month EMA at $2,229, where the most recent bounce occurred. Ethereum price is now trading near $2,424, but traders are watching the neckline at $2,130–$2,200 for any signs of breakdown.

Symmetrical Triangle Keeps ETH Locked Below Key Resistance

On the daily chart, ETH remains stuck inside a symmetrical triangle. Price recently rebounded from $2,220 but is capped by descending resistance at $2,520. RSI is near 46 and MACD remains negative, showing no momentum shift yet. Bollinger Bands are compressing, hinting at low volatility before a potential breakout.

A decisive move above $2,525 could flip the trend bullish. Until then, Ethereum price remains in a broader range between $2,200 and $2,870. Volume has been muted throughout, pointing to accumulation rather than distribution.

Despite near-term volatility, some market participants remain highly optimistic. A recent projection shared by Crypto GEMs suggests Ethereum could reach $50,000 within five years, based on long-term channel trend analysis.

$ETH #Ethereum could hit $50,000 in the next 5 years

👀 pic.twitter.com/mKn5GuJqYa

— Crypto GEMs 📈🚀 (@cryptogems555) June 21, 2025

Long Liquidations Outpace Shorts

According to liquidation data, Ethereum saw $28.25 million in long liquidations over the past day, more than double short-side liquidations at $11.91 million.

Bybit led long-side liquidations at $8.37 million, while Binance topped the short side with $4.1 million.

These figures suggest that long-side leverage had overheated around the $2,500 mark, triggering liquidations as price failed to extend upward.

Spot Outflows Add to Short-Term Bearish Tone

Netflows show $44.13 million in ETH outflows from exchanges, typically a bullish sign. But paired with the liquidation pressure and stagnant price action, this likely reflects risk-off repositioning rather than accumulation.

Until Ethereum reclaims $2,870 or holds firmly above $2,300, the bias remains neutral to bearish in the short term. The monthly chart remains a critical inflection point, with bulls needing to defend $2,200 to maintain structure.

Ethereum recently rebounded from $2,131 following a major whale accumulation exceeding $8.9 million, which helped lift price back toward the $2,400 level.

Best Wallet Gains Investor Attention As Ethereum Consolidates

While Ethereum remains range-bound, traders seeking diversification are turning to Best Wallet, a self-custodial app offering multichain support, real yield, and AI-based asset tracking.

With over 100,000 downloads and support for Ethereum, Solana, and BNB Chain, Best Wallet is emerging as a go-to platform for secure Web3 interaction. Learn more and download now at Best Wallet.

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