Ethereum demonstrates strong signs of a monthly reversal, suggesting the possibility of growth towards the $2,500–$3,200 range in the coming months. The current ETH price stands at approximately $1,848, hinting at further market changes.
Technical Structure Points to a Potential Bounce, But Resistance Awaits
Technical analysis indicates that Ethereum is forming a bullish flag on lower timeframes. The monthly chart reveals that the price is rebounding after testing and holding the midline of a long-term ascending channel. This structure may indicate a potential bounce in the $2,500–$3,200 range. However, the resistance area between $2,700 and $3,200 could limit further growth.
Support for Bullish Sentiment from On-Chain and Derivatives Data
On-chain data indicate that the net buyer volume has turned positive since April 23, suggesting growing buyer pressure. Long-term holders continue to accumulate ETH. Meanwhile, open interest in Ethereum derivatives has increased by over 3%, reaching $21.60 billion, confirming the bullish sentiment in the market.
Conclusion: Ethereum's Future Remains Uncertain
Despite positive signals such as the monthly reversal and increasing buyer pressure, Ethereum still faces potential resistance at $2,700 and $3,200, making the asset's future uncertain. Investors will closely monitor the developments.
Ethereum shows positive signs, but resistance levels may constrain further growth. Traders' attention is focused on upcoming price levels.
