Ethereum and the broader crypto market yesterday experienced a small but notable pump, rekindling hopes of a potential trend reversal after weeks of sales pressure. As market uncertainty, driven primarily by global economic tensions and geopolitical tensions between the US and China, intensifies, investors are closely watching signs of a breakout.
Despite the headwinds, analysts are beginning to change the tone. Some believe the worst could be behind for Ethereum, and a strong move to benefits could be brewed. One of the most vocalists of them was Carl Runefeld, a top analyst who shared a bold outlook. His analysis suggests that ETH is poised to escape the daily descent trend. This could serve as an important technical signal indicating a VA shift in momentum in favor of bulls.
Ethereum is above key support levels that are close to a reversal of potential trends, with traders and investors looking closely for follow-through confirmations. If volume and sentiment continue to be built, this could be the beginning of a critical rally.
Ethereum’s eyes recover amid rising global tensions
Global tensions and macroeconomic uncertainty weigh heavily on investors’ sentiment, and the ongoing trade war between the US and China continues to send shockwaves through stocks and high-risk assets. In the midst of this fragile background, Ethereum has been able to find solid support levels of around $1,500, and is now trying to regain the highlands. After weeks of sales pressure that eliminated bullish expectations that year, ETH shows early signs of recovery.
Ethereum’s current price structure has become a focus for market participants. The recent bounce from $1,500 shows potential high and low, a technical setup that is often associated with trend reversals. If ETH can successfully push past $1,700 and break the downtrend line, it could spark new momentum for the bull.
Runefelt shared an optimistic view, saying that Ethereum could rise very quickly from here. His analysis suggests that the next major price target is at $3,000, with a confirmed breakout exceeding short-term resistance levels.
Despite continuing global risk, the Ethereum network is fundamentally strong, with the adoption of Defi and Real World assets increasing. If breakouts are achieved and broader market sentiment stabilizes, ETH could lead the next leg of crypto recovery.
Price faces important resistance when the Bulls fight for momentum
Ethereum is currently trading at $1,630 after failing attempts to surpass the $1,700 to $1,800 resistance zone. This price range has served as a major barrier over the past few weeks, limiting bullish momentum and locking ETH into a wider downtrend. The Bulls should recapture their local highs at $1,691 set last week, indicating potential changes in the structure and confirm the start of the recovery rally.
A critical move above $1,700 could open the door to testing at the $2,000 level, which would mark an important psychological and technical milestone. However, the lack of follow-through of recent attempts to rise reflects ongoing uncertainty across the crypto market, driven primarily by macroeconomic tensions and risk-off sentiment.
If Ethereum fails to achieve strength above its current level, and if sales pressures are increased, there could be a retreat to $1,500 if it could provide additional downsides. This level has served as an important support zone in recent weeks. Without a compelling breakout, ETH remains vulnerable to new debilitating and deeper corrections. All eyes are now in whether the bull has built enough momentum to turn the resistance over and avoid another leg.
Dall-E special images, TradingView chart
