Ethereum has reclaimed key support levels, with the $2,100 price point looming as a potential pivot. Analysts remain split on whether the recent momentum can power Ethereum toward $2,500, or if resistance ahead could trigger another downward move.
Key support reclaimed, upside targets in play
After rebounding from the $1,505 zone, Ethereum climbed back above the $1,825 threshold, a development seen as significant by market watchers. Prominent crypto analyst Michaël van de Poppe pointed to this recovery as maintaining the overall target between $2,500 and $2,620, despite market volatility in recent sessions.
Technical analysis shows Ethereum’s price recovering above its short-term moving averages. Turning the $1,825 area from resistance into support could strengthen bullish sentiment. The next critical resistance lies near $2,465, and breaking above this level would increase the likelihood of reaching the broader target range.
A daily close under $1,825 could undermine the recent recovery and bring the $1,700 zone into focus. Larger support remains near $1,505, a level hit during June’s market lows. If Ethereum fails to hold above $1,825, the rally could stall and set up a retest of lower levels.
For now, market attention remains on whether Ethereum can maintain this reclaimed support and push on toward $2,000 and higher targets, or if renewed selling will shift the outlook bearish.
$2,100 test marks decisive moment for trend
Another prominent analyst, CobraTrader, shared an Elliott Wave analysis suggesting Ethereum might extend its rebound up to $2,100 before risk of a major correction resurfaces. The $2,100 region, situated near the 0.31 Fibonacci retracement, represents a pivotal resistance according to this perspective.
CobraTrader’s setup identifies this move as a potential fourth-wave top within the Elliott Wave cycle. A sustained breakout above $2,100 could weaken the case for a deeper correction. However, failure to overcome this resistance may trigger a fifth downward wave, with price targets in the $1,000 to $1,250 range.
Additional support appears around $1,505, where Ethereum previously found long-term buyers. A breach of this level could sharpen the bearish case and shift focus to the lower accumulation zone, where more pronounced buying interest may emerge.
Despite the short-term uncertainty, the long-term outlook remains cautiously optimistic. The Elliott Wave model indicates a possible major recovery post-correction, projecting potential moves above $3,400 and even toward $5,000 if macro conditions improve.
At present, Ethereum’s fate rests at the $2,100 mark. Bulls must clear this hurdle to maintain upward momentum, while failure to do so could mean a swift return to recent lows.
Mini dictionary: Elliott Wave — A technical analysis tool first outlined by Ralph Nelson Elliott that identifies recurring wave patterns in markets, often used to forecast likely support, resistance, and reversal points in asset prices.
| Support/Resistance | Price Level |
|---|---|
| Major support (June low) | $1,505 |
| Reclaimed support | $1,825 |
| First major resistance | $2,100 |
| Secondary resistance | $2,465 |
| Target range | $2,500-$2,620 |
| Bearish scenario support | $1,000-$1,250 |
| Long-term bullish target | $3,400-$5,000 |
Hanging onto the $1,825 support remains key for Ethereum as it sets its sights on $2,000 and possibly higher, though a failure to hold may trigger a return to June lows near $1,505.
Technical models project that while $2,100 could be reached during the current rebound, rejection at that level may open the door for a deeper correction before any potential move toward all-time highs.
