Overview

Click to expand overview
Ethereum's correction tests key Fibonacci support amid uncertain market sentiment. Analysts weigh potential scenarios, from further downside to a bullish reversal. According to Van De Poppe, Ethereum’s current correction phase is testing the $2,900 level. Once ETH manages to break through this level, it could reach new price levels in the coming If Ethereum manages to reclaim the mid-band, which aligns with the $2,100 resistance zone, it could indicate the beginning of a recovery. But if the price remains stuck Now, in Step 2 of Cowen’s 2025 guide, the crypto market has entered a correction phase, with Ethereum declining sharply. Cowen claims that ETH will eventually “go Ethereum’s recent price decline below the critical $3,000 level since early August may be approaching its end. According to an August 19 report by CryptoQuant analyst The expert shared how Ethereum’s price level hovering at $2,900 indicates that the token is currently at the end stage of correction, testing the surface tension. In trading

Ethereum in Correction Phase: Will ETH Rebound or Decline Further in May?

Is Ethereum's correction phase nearing its end? The recent market downturn has left many wondering how ETH will conclude May. Ethereum's correction tests key Fibonacci support amid uncertain market sentiment, leaving investors anxious about the future. Analysts weigh potential scenarios, from further downside to a bullish reversal. Let's delve into the latest analysis and predictions.

Key Support Levels Under Pressure

Ethereum’s recent price decline below the critical $3,000 level since early August may be approaching its end. However, the market's overall bearish sentiment keeps downward pressure on the price. According to Van De Poppe, Ethereum’s current correction phase is testing the $2,900 level. The expert shared how Ethereum’s price level hovering at $2,900 indicates that the token is currently at the end stage of correction, testing the surface tension. If this level breaks, further downside is possible.

Bullish Reversal Scenarios

Despite the bearish signals, some analysts see potential for a bullish reversal. If Ethereum manages to reclaim the mid-band, which aligns with the $2,100 resistance zone, it could indicate the beginning of a recovery. Once ETH manages to break through the $2,900 level, it could reach new price levels in the coming weeks. The market needs a catalyst, either positive regulatory news or increased institutional adoption, to fuel a sustainable rally.

What's Next for Ethereum?

Now, in Step 2 of Cowen’s 2025 guide, the crypto market has entered a correction phase, with Ethereum declining sharply. Cowen claims that ETH will eventually “go” higher, but the timing remains uncertain. Traders need to closely monitor price action, volume, and key technical indicators.

Ethereum trading requires caution during this volatile period. Stay informed, manage your risk, and consider consulting with a financial advisor before making any investment decisions. The conclusion of May for ETH remains uncertain, but understanding the key support and resistance levels is crucial for navigating this correction phase.

Top Sources

Related Articles