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ETH Ethereum Price Analysis: After a 35% rise, is ETH ready to hit another new high?
Ethereum's strong breakthrough has significantly improved its market structure, and strong momentum is pushing prices into the $2500 region. Although the possibility of bullish growth still exists, the continued lengthening of the market makes ETH prone to temporary corrections or sideways consolidation when supply increases.
Ethereum Price Analysis: Daily Chart
On the daily chart, Ethereum has decisively broken through its long-term bearish structure. The strong rebound from the $1850 to $1920 demand area pushed prices with considerable force beyond the downtrend line, the main moving average, and the $2070 to $2150 resistance area.
ETH is currently trading around $2500 and is testing the main resistance area of $2400 to $2500. Momentum remains firmly bullish, and if buyers can absorb available supply near the region, there is a possibility of continuing the rally.
However, after experiencing a vertical rise, the RSI has recently entered overbought territory. This does not necessarily mean an immediate reversal, but it does indicate that the market is becoming increasingly overbought. If supply increases around $2500, ETH may enter a sideways consolidation phase or start a correction correction before attempting another upside.
In the event of a deeper correction, the $2070 to $2150 region is an important support level, while the previous consolidation range of $1850 to $1920 is a broader structural support.
ETH/USDT 4-hour chart
The 4-hour chart more clearly highlights the strength of recent expansion. Ethereum soared almost vertically from around $1900, and then began to consolidate within the resistance zone of $2430 to $2510.
Despite the lack of immediate follow-up above $2500, the short-term structure remains bullish. Decisively breaking through and stabilizing the $2510 area may indicate that buyers still have control and open up space for further upside.
Still, it is technically reasonable to have a pullback after such an aggressive rise. The first noteworthy callback target is in the $2220 to $2310 area. If selling pressure intensifies, the second support area around $2070 to $2120 could become important.
Therefore, based on the strong momentum, the main scenario remains a bullish continuation. However, increased supply near current resistance levels could first cause prices to temporarily pull back into these retracement areas or enter a sideways consolidation phase that allows the market to cool down.
Sentiment analysis
Liquidation data adds another reason to expect possible volatility in the short term. Liquidity exists on both sides of Ethereum's current price, indicating that neither long nor short positions have yet established full control.
This balanced position increases the possibility of sideways consolidation and a two-way liquidity sweep. Prices may temporarily break above or below the forming range to clear leveraged positions before establishing their next persistent trend.
Combined with a technical perspective, this shows that the macro momentum of ETH is still conducive to bullish continuation, but the upward path may not be smooth sailing. After this recent wave of impulsive gains, the market needs to digest supply, so there may be a period of consolidation or temporary correction first.
