Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum (ETH) is down nearly 50% over the past year, eroding investor confidence in the second-largest cryptocurrency by market cap. However, crypto analysts suggest that ETH’s fortunes might be about to turn.

Ethereum Set For A Bullish Breakout?

Unlike Bitcoin (BTC), ETH has not significantly benefited from the bullish developments of 2024. While the approval of spot BTC exchange-traded funds (ETFs) opened the floodgates for institutional capital to flow into the top digital asset, ETH ETFs have failed to generate the same level of interest.

Moreover, ETH’s underperformance relative to BTC has only deepened. Crypto analyst Daan Crypto Trades shared the following two-week ETH/BTC chart showing how ETH has consistently broken through key high time-frame support levels against BTC over the past few years.

Currently, ETH is trading at levels not seen since 2020 relative to BTC. According to the analyst, the final major ETH/BTC support lies around 0.016 – nearly 20% below the current level of 0.019.

On a more optimistic note, fellow analyst Ted pointed out that ETH may be breaking out of a downward-sloping trendline on the two-hour chart. He commented:

Global markets are gaining some strength, so expect Ethereum to hold the $1,550-$1,600 level. For now, I’m hoping for a breakout above and close above $1,670 for a rally towards $2K.

Similarly, seasoned analyst Titan of Crypto highlighted that ETH appears poised to break out from an ascending triangle pattern on the weekly time frame. According to him, ETH is currently trading at the bottom of the structure and could be setting up to test the top of the formation around $3,600.

For the uninitiated, the ascending triangle is a continuation pattern that forms when price makes higher lows while facing resistance at a horizontal level, eventually creating a triangle shape. It signals building buying pressure, and a breakout above the resistance line often leads to a strong upward move.

Rising ETH Exchange Reserves Could Suppress Price

While the analysts above point to a potential bullish reversal for ETH, crypto analyst Ali Martinez noted that over 368,000 ETH has been sent to exchanges since the beginning of the month. A rise in exchange reserves for a digital asset is typically bearish news, as it indicates that holders may be looking to sell their assets in the near-term. 

Additionally, even if ETH has already bottomed for this market cycle, it still faces strong resistance around the $2,300 mark. At press time, ETH trades at $1,612, down 2.7% over the past 24 hours.

Featured Image from Unsplash.com, charts from X and TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Ethereum (ETH) continues to hold a crucial support level after recovering from last week’s correction. Its recent bounce from historical demand zones has led some analysts to suggest that the altcoin is gearing up for a breakout.

Related Reading

Ethereum Holds Key Support

Ethereum has reclaimed the key $1,600 level after dropping below the $1,400 support for the first time since 2023. The second-largest cryptocurrency by market capitalization recently fell to a two-year low during last week’s correction, fueled by US President Donald Trump’s trade tariff war.

ETH touched $1,385 last Wednesday, retesting the 2018 all-time high (ATH) levels before recovering. Amid Trump’s 90-day tariff pause announcement, Ethereum jumped over 10% from $1,480 to $1,600, briefly nearing the $1,700 resistance. However, its price retraced to the $1,400-$1,500 support zone on Thursday amid the market’s volatility.

Over the weekend, the King of Altcoins recovered, hovering between the $1,580-$1,680 price range for the past four days. Ethereum has reclaimed the $1,600 support in the past 24 hours, fueling a bullish sentiment among some market watchers.

Analyst Ted Pillows noted that ETH might be getting closer to a breakout from its short-term downtrend line. According to him, investors could expect the cryptocurrency to hold the $1,550-$1,600 level now that global markets are gaining some strength.

He considers holding this range could propel Ethereum’s price toward the one-month downtrend line. A breakout and confirmation of this resistance, at around $1,670, could set the base for a 20% jump toward the $2,000 resistance level.

Is ETH Out Of The Woods?

Merlijn The Trader suggested that ETH is gearing up for a breakout. The market watcher pointed out the cryptocurrency’s two-month descending channel, which could be “history” if volume surges.

The analyst considers that as Ethereum nears the channel’s upper boundary, “all we need now is volume” for a surge above the $1,690 mark, adding that a breakout from this level would target $2,700.

He also underscored that ETH’s double top formation was completed after “smashing” the $1,432 target, signaling that it “survived the storm.” Notably, the cryptocurrency confirmed this pattern, which developed within its $2,196-$3,904 Macro Range, following its March close below the $2,100 support.

After recovering from the recent lows, “Now comes the face-melting rally no one expects. $4,000 is only the beginning.”

Meanwhile, Rekt Capital highlighted that Ethereum’s Dominance has almost equaled old All-Time Lows. He explained that since June 2023, ETH’s Dominance has dropped from 20% to 8%, historically a reverse area for the cryptocurrency.

Related Reading

“Generally, Ethereum Dominance needs to hold this green area for a chance at reversal Increasing ETH Dominance would be highly beneficial for Altcoin valuations over time,” he noted Monday.

When the ETH Dominance hit the $7.5%-8.25% range, it reversed “to become more market-dominant,” which could signal a reversal for the King of Altcoins.

As of this writing, ETH trades at $1,609, a 1% decrease in the daily timeframe.

Featured Image from Unsplash.com, Chart from TradingView.com

Ethereum is trading above the $1,600 mark after a turbulent period marked by heightened volatility and growing uncertainty surrounding global trade policies. As US President Donald Trump’s tariff measures continue to shake investor sentiment, crypto markets have struggled to find direction. Ethereum, like the broader market, is attempting to stabilize after weeks of aggressive selling pressure and macroeconomic headwinds.

Related Reading

Despite signs of weakness, bulls are now trying to regain control. However, price action still suggests the downtrend may not be over yet. ETH must reclaim key levels to confirm short-term momentum for any meaningful recovery to unfold. Until then, caution dominates the market outlook.

Glassnode data provides a hopeful perspective for Ethereum bulls. According to on-chain metrics, the most critical support level currently sits at $1,546.55—where whales accumulated over 822,440 ETH. This level could serve as a strong foundation for a bounce if tested again, as historically, zones with heavy accumulation tend to attract renewed buying interest.

The coming days will be crucial for Ethereum’s trajectory. Holding above this support while pushing into higher resistance could be the catalyst needed to reignite bullish sentiment and reverse recent losses.

Ethereum Tests Key Resistance As Bulls Eye Recovery

Ethereum has surged more than 20% since last Wednesday’s low near $1,380, generating renewed optimism among investors hoping for a broader market recovery. Currently trading around key resistance levels, ETH appears to be forming a base for a potential breakout that could mark the beginning of a new upward phase. However, the path forward remains uncertain as global macroeconomic conditions continue to weigh heavily on market sentiment.

Growing speculation of a policy shift following US President Donald Trump’s announcement of a 90-day tariff pause for all countries except China sparked the recent surge. This decision triggered a temporary risk-on sentiment across global markets, with cryptocurrencies benefiting from the momentum. Still, concerns about long-term US foreign policy and lingering trade tensions have left many investors cautious.

While some analysts believe that Ethereum has already priced in the worst of the selloff, others warn that we may only be in the early stages of a broader bear cycle. Despite the divergence in outlooks, on-chain data suggests that a major support level has formed.

According to analyst Ali Martinez, the most critical support for Ethereum sits at $1,546.55—an area where more than 822,440 ETH were previously accumulated. This level is being closely monitored as a potential pivot zone. If bulls can maintain price action above this threshold and successfully push through current resistance, it could trigger a strong continuation rally and restore confidence in the altcoin market.

Until then, Ethereum remains at a crossroads, with the next move likely to be shaped by a combination of market momentum, geopolitical developments, and investor conviction.

Related Reading

ETH Price Struggles at Resistance: Bulls Must Reclaim $1,875

Ethereum is trading at $1,630 after setting a fresh 4-hour high around $1,691, slightly above the previous local peak. The short-term price structure suggests that bulls are trying to regain momentum, but the recovery remains uncertain without a clear breakout above key resistance levels. For Ethereum to confirm a true reversal and enter a bullish recovery phase, it must reclaim the $1,875 level — a zone that aligns with both the 4-hour 200-day moving average (MA) and exponential moving average (EMA).

This critical level has acted as a major barrier since the downtrend began, and breaking above it would signal a shift in trend and market sentiment. However, failing to push beyond this range could send ETH back to retest the $1,500 support zone or even lower.

Related Reading

The $1,600 level now acts as a key psychological and technical threshold. Holding above it is essential for bulls to keep short-term momentum alive and prevent another sharp selloff. As macroeconomic uncertainty and market volatility continue, Ethereum’s next move depends heavily on whether bulls can defend current support and build enough strength to break above the $1,875 resistance zone.

Featured image from Dall-E, chart from TradingView