Ethereum Rebounds to $1,580 After Testing Fresh Lows, Faces Resistance

Ethereum is attempting a rebound from fresh lows, with the asset trading near $1,580 after bouncing from Friday's low. The move appears corrective rather than a confirmed reversal, according to Elliott Wave analysis shared by technical analysts. The broader setup remains bearish while price stays below major resistance zones, with buyers needing to defend the 2025 low near $1,385 to prevent further downside extension.

Ethereum Tests Resistance Between $1,605 and $1,668

Ethereum is attempting a short-term rebound after forming a new low, with the asset trading near $1,580 following Friday's decline. Chart analysis from @Morecryptoonl on X shows an Elliott Wave count suggesting the recent low may have completed wave 3, with wave 4 now developing as a corrective rally.

The first major resistance zone sits between $1,605 and $1,668. A break above this area could open the door to higher resistance near $1,690, followed by a wider zone between $1,823 and $2,224. However, the current bounce still appears corrective rather than impulsive. Unless ETH shows a stronger five-wave advance, the bearish outlook remains in place, with the risk of another move lower after the wave 4 rally ends.

Ethereum Trades Near $1,385 Support Inside Falling Channel

Ethereum is trading near a major support area around its 2025 low while price remains trapped inside a falling channel. Chart analysis from @Karman_1s on X shows ETH trading near $1,560 after extending its decline from the 2025 peak, with price remaining below the channel's upper boundary.

The key support level sits near $1,385, which marks the 2025 low. Holding this area could trigger a relief rally, especially if buyers push ETH back toward the upper side of the channel. However, a decisive break below the 2025 low would weaken the setup and could extend the downtrend. Until ETH breaks out of the falling channel, rebounds remain vulnerable to rejection.

FAQ

What price level is Ethereum currently testing? Ethereum is trading near $1,580 after bouncing from Friday's low, according to chart analysis. The asset is attempting a rebound but remains below major resistance zones between $1,605 and $1,668.

Where is Ethereum's key support level? The key support level sits near $1,385, which marks the 2025 low. This level represents a critical area that buyers need to defend to prevent further downside extension, according to technical analysts tracking the falling channel pattern.

What resistance zones does Ethereum face? Ethereum faces resistance between $1,605 and $1,668 as the first major barrier. If this zone is cleared, higher resistance levels sit near $1,690, followed by a wider zone between $1,823 and $2,224, based on Elliott Wave analysis shared by technical analysts.