Ethereum Price Prediction: Can ETH Break Its Downtrend and Target $2.2K?
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Ethereum has extended a recovery after buyers defended the June lows, rebounding from the $1.46K–$1.53K demand zone and breaking above its recent consolidation range toward the descending trendline that capped rallies since the May peak. The rally has improved short-term crypto and DeFi sentiment but is now testing a major confluence resistance area that will determine if this is a true trend reversal or only a relief rally, leaving upside uncertain.
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Ethereum has extended its recovery over the past several sessions, breaking above its recent consolidation range and approaching a major confluence resistance area. The rally has improved short-term sentiment, but the market is now testing a zone that could determine whether this move develops into a broader trend reversal or remains a relief rally within the prevailing downtrend.
Ethereum Price Analysis: The Daily Chart
Ethereum continues to recover from the $1.46K-$1.53K demand zone, where buyers once again stepped in after defending the June lows. The rebound has now carried price toward the descending trendline that has capped every major rally since the May peak.
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Coins
$ 1.82K
+1.66%
$ 1.81K
+1.46%Predictions Markets
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In This News
Coins
$ 1.82K
+1.66%$ 1.81K
+1.46%Predictions Markets
See what traders are focused on
Share:
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Ethereum Price Analysis: ETH Faces a Crucial Test After Latest Rebound
