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Ethereum (ETH) Pullback Deeper Than Expected: Bounce Setup or More Pain Ahead?

Ethereum (ETH) price chart

Ethereum (ETH) has come underneath stress this week, dropping to underneath $3,200 throughout yesterday’s market-wide sell-off. The asset is down over 6% within the final 24 hours and greater than 17% up to now seven days, primarily based on information from CoinGecko.

After a powerful run earlier this yr, the newest transfer brings ETH again to key technical ranges.

ETH/BTC Drops into Accumulation Zone

The ETH/BTC chart reveals the pair returning to an space marked by previous shopping for. Analyst Michaël van de Poppe pointed out that the worth has pulled again greater than anticipated, however nonetheless sits in a zone the place accumulation has occurred earlier than. He stated,

“Slightly deeper than anticipated on ETH, however that is nonetheless the extent that I believe is smart to search for potential accumulations.”

ETH/BTC is now buying and selling close to 0.0326 BTC, a zone that strains up with earlier consolidation. This degree acted as resistance earlier in 2025 and will now function assist.

Meanwhile, technical indicators present blended indicators. Weekly RSI remains to be above oversold territory. On the day by day chart, the Stochastic RSI is deep within the oversold vary. That suggests the current promoting could also be slowing. The MACD remains to be detrimental, however the histogram is displaying smaller purple bars, which can level to weakening draw back stress.

Ethereum (ETH) price chart
Source: TradingView

Long-Term Support Still Holds

Analyst Kamran Asghar shared that ETH is now testing a trendline that has held since 2022. The asset has bounced from this degree a number of occasions over the past two years. So far, the pattern stays intact.

Ali Martinez shared one situation the place ETH may push increased in steps—first holding above $3,800, then reclaiming $4,900, and finally concentrating on $8,000. His chart reveals potential pauses round $5,600, $6,400, and $7,200.

But Downside Still in Play

Martinez additionally shared a much less optimistic view. If ETH can’t get again above $4,000 quickly, the worth may slide to $2,400 or even $1,700.

In a separate publish, dealer Ted said ETH got here near $3,000 earlier than bouncing. He added:

“The essential degree to reclaim for Ethereum is $3,500–$3,600.”

If the worth will get rejected at that vary, one other transfer towards $2,800 might comply with. At this level, Ethereum is sitting at an necessary zone. Buyers and sellers are watching intently to see if this degree holds—or if the downtrend continues.

The publish Ethereum (ETH) Pullback Deeper Than Expected: Bounce Setup or More Pain Ahead? appeared first on CryptoPotato.

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