Greetings Traders,
As of early June 2025, Ethereum (ETH/USDT) is navigating a pivotal technical juncture, currently consolidating around the $ 2,490 - $ 2,500 level. This zone is a historically significant support/resistance flip across multiple timeframes, making its current test crucial for near-term direction.
Current Market Snapshot:
Long-Term (Weekly): Dominant bearish pressure following breakdowns from major 2024 patterns (Rising Wedge, Double Top around $ 4,000).
Medium-Term (Daily): The uptrend from Q4 2023 ($ 1,500 lows) is under severe threat, with price testing the lower bands of the daily EMA ribbon and critical horizontal support. A conflict exists between weekly bearishness and this daily support test.
Short-Term (4H, 1H, 15M): Clearly bearish, with price trading below downward-sloping EMA ribbons.
Key Levels to Watch:
Critical Immediate Support: $ 2,440 - $ 2,500. This is the line in the sand.
Next Major Support: $ 2,280 - $ 2,320, then $ 2,150 - $ 2,200.
Immediate Resistance: $ 2,640 - $ 2,660 (upper boundary of current consolidation).
Next Major Resistance: $ 2,750 - $ 2,800 (recent swing high).
Volume & EMA Insights:
Volume: Relatively low volume on the recent dip to support (15M chart) suggests some seller caution. However, any break of key levels needs to be confirmed by a significant increase in volume for higher conviction.
EMA Ribbons: Short/medium-term EMAs act as dynamic resistance. The daily EMA ribbon is flattening and being tested as support; a bearish crossover here would be significant.
Potential Scenarios:
Bearish Breakdown (Higher Probability given current technicals):
Trigger: Sustained break below $ 2,440 (ideally on increased volume).
Path: Targets $ 2,280-$ 2,320, potentially extending towards $ 2,150-$ 2,200 or even the major $ 1,700-$ 1,850 accumulation zone from Q1 2025 on further weakness.
Bullish Defense & Reversal (Lower Probability without significant catalyst):
Trigger: Strong hold of $ 2,450 support, followed by a decisive reclaim of $ 2,660 (on increased volume).
Path: Could target $ 2,750-$ 2,800. A break above this would be needed to challenge the broader bearish outlook.
Sideways Consolidation:
Path: Price remains range-bound between roughly $ 2,450 and $ 2,660, indicating market indecision. Wait for a clear breakout.
Concluding Thoughts:
Ethereum is at a critical decision point. While a short-term bounce from current support is possible, the overarching technical context from higher timeframes leans bearish. A confirmed breakdown below $ 2,440 would likely usher in the next leg down. Conversely, bulls need to reclaim $ 2,660 and then $ 2,800 with conviction to signal a potential shift.
Monitor price action around these key levels closely, and always look for volume confirmation.
Disclaimer: This is not financial advice. The analysis is for educational purposes based on the provided information for June 2025. Market conditions can change rapidly. Always conduct your own research (DYOR).
As of early June 2025, Ethereum (ETH/USDT) is navigating a pivotal technical juncture, currently consolidating around the $ 2,490 - $ 2,500 level. This zone is a historically significant support/resistance flip across multiple timeframes, making its current test crucial for near-term direction.
Current Market Snapshot:
Long-Term (Weekly): Dominant bearish pressure following breakdowns from major 2024 patterns (Rising Wedge, Double Top around $ 4,000).
Medium-Term (Daily): The uptrend from Q4 2023 ($ 1,500 lows) is under severe threat, with price testing the lower bands of the daily EMA ribbon and critical horizontal support. A conflict exists between weekly bearishness and this daily support test.
Short-Term (4H, 1H, 15M): Clearly bearish, with price trading below downward-sloping EMA ribbons.
Key Levels to Watch:
Critical Immediate Support: $ 2,440 - $ 2,500. This is the line in the sand.
Next Major Support: $ 2,280 - $ 2,320, then $ 2,150 - $ 2,200.
Immediate Resistance: $ 2,640 - $ 2,660 (upper boundary of current consolidation).
Next Major Resistance: $ 2,750 - $ 2,800 (recent swing high).
Volume & EMA Insights:
Volume: Relatively low volume on the recent dip to support (15M chart) suggests some seller caution. However, any break of key levels needs to be confirmed by a significant increase in volume for higher conviction.
EMA Ribbons: Short/medium-term EMAs act as dynamic resistance. The daily EMA ribbon is flattening and being tested as support; a bearish crossover here would be significant.
Potential Scenarios:
Bearish Breakdown (Higher Probability given current technicals):
Trigger: Sustained break below $ 2,440 (ideally on increased volume).
Path: Targets $ 2,280-$ 2,320, potentially extending towards $ 2,150-$ 2,200 or even the major $ 1,700-$ 1,850 accumulation zone from Q1 2025 on further weakness.
Bullish Defense & Reversal (Lower Probability without significant catalyst):
Trigger: Strong hold of $ 2,450 support, followed by a decisive reclaim of $ 2,660 (on increased volume).
Path: Could target $ 2,750-$ 2,800. A break above this would be needed to challenge the broader bearish outlook.
Sideways Consolidation:
Path: Price remains range-bound between roughly $ 2,450 and $ 2,660, indicating market indecision. Wait for a clear breakout.
Concluding Thoughts:
Ethereum is at a critical decision point. While a short-term bounce from current support is possible, the overarching technical context from higher timeframes leans bearish. A confirmed breakdown below $ 2,440 would likely usher in the next leg down. Conversely, bulls need to reclaim $ 2,660 and then $ 2,800 with conviction to signal a potential shift.
Monitor price action around these key levels closely, and always look for volume confirmation.
Disclaimer: This is not financial advice. The analysis is for educational purposes based on the provided information for June 2025. Market conditions can change rapidly. Always conduct your own research (DYOR).
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.