Ethereum is once again in the spotlight following fresh technical evaluations of its price action. Analysts suggest that if the cryptocurrency’s long-term support structures hold, the foundat
Ethereum is once again in the spotlight following fresh technical evaluations of its price action. Analysts suggest that if the cryptocurrency’s long-term support structures hold, the foundation could be set for Ethereum’s next major price move.
The crypto analyst known as Liquidity Hunter argues that the prevailing pessimism in Ethereum’s market might present a contrarian opportunity for certain investors. According to Liquidity Hunter, the current market structure shares similarities to previous cycle lows, with ETH now retesting a longstanding area of key support.
Liquidity Hunter highlights that Ethereum has faced heavy criticism in recent months, with waning investor interest, and notes that such periods in the past have often preceded significant market turning points.
The shared charts show that Ethereum has largely traded within a broad range over several years, gradually forming higher lows near critical support zones. The analysis also identifies a major downtrend line extending back to former cycle highs. At present, price action is hovering near a potential breakout region.
However, analysts caution that a bullish reversal has yet to be confirmed. A more sustained recovery for Ethereum could begin if buyers defend current support levels and regain long-term resistance areas. Otherwise, the prevailing downward pressure may persist.
Another crypto analyst, Kamran Asghar, points out that Ethereum is once again testing a long-term descending trendline that historically coincided with a major market low. Asghar notes similarities between today’s price structure and the one seen before the strong bounce at the start of 2025.
Charts referenced in the analysis indicate that after revisiting its trendline support, ETH is trading near $1,725. In previous instances when these levels were tested, Ethereum managed a more robust recovery. The Relative Strength Index (RSI), a technical indicator measuring the speed and magnitude of price moves, is also rebounding from oversold territory, which could signal easing selling pressure.
Mini glossary: The RSI is a technical indicator that measures the speed and strength of price movements. The oversold zone is an area where short-term selling could be losing momentum.
Asghar adds that if price behavior follows historical precedent, the latest retest could develop into a long-term accumulation region. In this scenario, buyers could gradually return to the market, laying the groundwork for a broader upside reversal.
Still, analysts stress that this technical setup has not been validated. For Ethereum to confirm a larger trend reversal, it needs to form higher lows and decisively break through the critical resistance around $2,350, which matches the 200-day moving average.
For now, market participants remain focused on whether Ethereum can maintain its trendline support. A sustained breakdown below this level could signal a deeper correction ahead for the cryptocurrency.
The post Analysts said Ethereum must reclaim $2,350 resistance for a trend reversal appeared first on COINTURK NEWS.
