A golden opportunity to buy Ethereum when the price drops? Check out the Analysis!

Jakarta, Pintu News – Ethereum (ETH) has recently experienced a price drop after previously peaking at $2,736. Currently, Ethereum (ETH) is in a correction phase, and this may be a good opportunity to consider buying. With strong support above $2,550 and several technical indicators pointing to a potential rebound, the opportunity to re-enter the market seems to be lurking.

Introduction: Ethereum Market Dynamics

Ethereum (ETH) has shown an impressive performance by breaking the $2,650 resistance and even reaching $2,736. However, the price is now undergoing a correction, and Ethereum (ETH) has dropped below $2,650. This correction reached below the 50% Fibonacci retracement level of the last price increase from $2,415 to $2,736. Nonetheless, market participants are still optimistic about the existence of strong support above $2,550.

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Technical Analysis: Indicators and Rebound Potential

Ethereum (ETH) is currently trading above its 100-hour simple moving average, suggesting that the short-term trend is still trending positively. There is a descending channel formation that may also be a bullish flag on the hourly chart of ETH/USD. If Ethereum (ETH) can break the $2,630 resistance, there is potential for a return to the $2,720 level and possibly even reach $2,820.

Key Resistance and Support

The next major resistance lies at $2,680, with another important resistance at $2,720. If Ethereum (ETH) manages to break $2,720, it could pave the way towards $2,820 and a potential further rise towards $2,880 or even $2,950 in the short term. However, if Ethereum (ETH) fails to break the $2,630 resistance, there could be a further correction.

Potential Downturn: What to Watch Out For?

Initial support lies at $2,575, with the next major support at the $2,500 zone or the 76.4% Fibonacci retracement level of the last rise. If the price breaks below $2,500, this could push Ethereum (ETH) towards support at $2,420. A further drop might lead to $2,350 or even $2,320 as the next key support.

Conclusion: The Right Time to Observe

With various technical indicators pointing to a potential rebound and strong support above $2,550, investors and traders may want to consider capitalizing on the current Ethereum (ETH) price drop as an opportunity to buy. However, it is important to remain vigilant of the potential for further declines and adjust investment strategies according to changing market conditions.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Ethereum Price Dips 2%, Why ETH Could Extend Losses. Accessed on May 15, 2025
• Featured Image: Generated by AI