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Ethereum Dips Below $2,500, But Analyst Targets Mid-$3Ks if Key Resistance Breaks

Ethereum Dips Below $2,500, But Analyst Targets Mid-$3Ks if Key Resistance Breaks WikiBit 2025-06-07 22:13

Altcoin AnalysisEthereum (ETH) has dropped to $2,498.99 at the time of writing, retreating from its recent highs above $2,650. The 7-day price chart shows

Ethereum

Ethereum Dips Below $2,500, But Analyst Targets Mid-$3Ks if Key Resistance Breaks

Ethereum (ETH) has dropped to $2,498.99 at the time of writing, retreating from its recent highs above $2,650.

The 7-day price chart shows a sharp decline on June 6, which wiped out early-week gains, triggering a steep sell-off before ETH began to recover toward the $2,500 level.

Despite this pullback, crypto analyst Altcoin Sherpa remains bullish on Ethereums mid-term outlook. In a post on X, he said that if ETH can break through the current supply zone, the next upside target could land in the mid-$3,000s.

“Im still bullish on ETH in the mid-term… there should be some rallies here and there,” he wrote.

Volume and Market Structure Insights

According to CoinMarketCap, Ethereum now has a market cap of $301.68 billion, up slightly by 0.74% in 24 hours. Daily trading volume sits at $14.85 billion, having dropped over 49%, indicating that the dip may have been driven by short-term traders exiting after the recent rally.

Sherpas chart highlights a key volume profile resistance zone between $2,500 and $2,700. ETH is currently testing the lower boundary of this region. A sustained move above this could clear the way for momentum toward the $3,000–$3,300 range, where lighter resistance lies.

???? Key Ethereum Levels to Watch:

  • Support: $2,430 – short-term demand zone (from 1D/4H chart structure)
  • Resistance: $2,700 – high-volume node zone, crucial to flip
  • MidTermTarget: $3,000–$3,300 – next major zone on the chart
  • BreakoutThreshold: $2,750+ – confirmation of breakout from range

Outlook: A Make-or-Break Zone

Ethereums current zone between $2,450 and $2,700 is proving pivotal. If bulls can defend the $2,450–$2,500 area and push ETH above $2,700 with volume, it could trigger bullish continuation toward higher levels in Q2–Q3 2025.

However, failure to break through the high-volume resistance zone may keep ETH range-bound or even vulnerable to further dips, particularly if Bitcoin remains dominant.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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