Ethereum is currently facing a significant resistance zone. The recent bullish move has been very steep, which often leads to a correction. If that happens, the first potential retracement level is around $3,010.
If Ethereum continues to rally without correcting, the next upside target is $3,700. However, USDT Dominance has reached a support level. If that support holds, we could see capital rotation into USDT, accelerating a pullback in ETH.
At this point, a slowdown in Ethereum’s momentum is likely. If you're holding altcoins, it might be a good moment to take some profits.
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After its recent impulsive move, Ethereum appeared to make a slight correction. However, this correction did not complete and instead formed a second peak. Since a full correction hasn't played out yet, caution is still warranted when trading Ethereum.
The first correction level is around $2,850, the second around $2,780, and the third around $2,700. If Ethereum pulls back to the second correction level, it will balance out the second imbalance zone created during the last impulse, which could allow for a healthier continuation upward.
As long as Ethereum doesn't break down below the $2,900 zone, I do not expect a correction. But if it does break below $2,900, corrections are likely to occur one after another.
At this point, neither a long nor a short position seems suitable for Ethereum.
ETHUSDT #ETH Update #4 – July 17, 2025
