Ethereum shows early signs of a potential correction as it retraces to support levels after a strong push against the $2,500 resistance level.
Potential Correction and Current Price Levels
Currently, Ethereum is trading at $2,486.50, representing a decline of 1.84% from previous highs. Analysts suggest a potential retracement towards the $1,930–$2,100 range, aligning with a strong bullish order block near $1,810.
Broken Descending Trendline and Market Structure Shifts
Since peaking at $4,000 in December 2024, Ethereum has undergone a prolonged downtrend. However, a significant price rise in April led to the breaking of a long-standing descending trendline, indicating a potential shift away from bearish dominance.
Critical Zones to Watch in Coming Weeks
Key technical zones to monitor include the $1,810–$2,100 area that may serve as support in the short term. Should support hold here, analysts forecast a possible rally towards $3,400 by August 2025. Additionally, resistance levels at $2,800 and $3,200 may limit upside if volume does not build.
The current pullback appears corrective rather than trend-breaking. To maintain a bullish outlook, Ethereum must hold the $1,800 level. Strengthened demand at this zone could allow for a rally to the $4,000–$5,000 range.
