Ethereum Price Stabilizes After a Drop: Can the Bulls Take Over Again?

Jakarta, Pintu News – After declining from the $2,620 resistance zone, the price of Ethereum (ETH) is now below $2,580 and shows potential to continue declining. This decline has sparked concerns among investors and market speculators about the future of Ethereum (ETH). In the last few hours, Ethereum (ETH) tried to recover, but it is still struggling to return to its previous price levels.

Recent Technical Analysis

Ethereum (ETH) experienced a sharp drop from $2,650 support and failed to recover its losses, slipping below the $2,600 level. The decline continued below $2,550, bottoming out at $2,470 before starting to consolidate. There was a slight recovery above $2,500, including the breakdown of a major bearish trend line on the hourly chart of ETH/USD. However, this recovery attempt was still not strong enough to restore the overall bullish momentum.

Ethereum (ETH) is now facing resistance near $2,550, with the next key resistance near $2,600. The first major resistance is at $2,620, which is also the 50% Fib retracement of the last drop from $2,787 to $2,470. If Ethereum (ETH) manages to break above $2,620, this could pave the way towards $2,720, and a potential further rise towards the $2,780 or even $2,880 zone in the near future.

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Ethereum Price Drop Potential

If Ethereum (ETH) fails to break the $2,600 resistance, there is a possibility of a fresh decline. Initial support lies near $2,500, with the next major support in the $2,470 zone. A break below this support could push the price towards $2,420, and if the decline continues, the next target is $2,350.

The next key support is at $2,320, which could be a critical point to determine the next direction of the Ethereum (ETH) price. Technical indicators are currently showing bearish momentum, with the hourly MACD for ETH/USD rising within the bearish zone. Meanwhile, the hourly RSI for ETH/USD is currently below the 50 zone, signaling more selling pressure in the market.

Conclusion: Ethereum’s Prospects in the Crypto Market

With market conditions currently volatile, investors and traders should remain vigilant on Ethereum (ETH) price movements and observe key support and resistance levels. Investment decisions should be based on careful technical analysis and continuous monitoring of market indicators.

Also Read: XRP is in Freefall! Is This a Sign of a Big Storm in the Crypto World?

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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 Stabilizes at $2470. Accessed on June 3, 2025
• Featured Image: CryptoSlate