Ethereum Price Prediction: Rebound Ahead or Will ETH Breakdown Toward $2K?

Ethereum is trading near $2.5K after a sharp correction from the $2.7K resistance area, with the latest price action putting a key support zone under pressure. While ETH remains above its daily 100-day and 200-day moving averages, weakening momentum and a recent rebound in the exchange supply ratio suggest that traders should watch for further volatility before assuming the broader recovery will resume. Ethereum Price Analysis: The Daily Chart Ethereum’s daily chart shows a strong recovery from the June lows near $1.5K, followed by a sharp rally that carried the asset through the $2K region and into the $2.4K area. ETH subsequently climbed toward the $2.7K resistance zone, where it consolidated for the last few weeks before sellers regained control in early October. The latest rejection from the $2.7K supply zone has pushed ETH back toward $2.4K, the immediate support area. Buyers have started to respond after the latest sell-off, as yesterday’s candle wicked through the support and bounced, but the rebound remains modest and has yet to establish a convincing bullish reversal. If this support holds, ETH could attempt to recover toward the major resistance around $2.7K. A sustained ...