Ethereum Under Pressure: Bulls Battle to Hold Critical Support as Bears Circle

Ethereum''s price action is flashing warning signs as the second-largest crypto struggles to maintain footing above a key support level. The bears smell blood—but this isn''t their first failed takeover attempt.

Technical breakdown or buying opportunity?

Chartists are glued to the $3,200 zone like traders watching a liquidation cascade in slow motion. A decisive close below could trigger algorithmic sell-offs, while holding here might springboard ETH toward its next leg up. Meme coin degens aren''t the only ones gambling this week.

The real question: Will institutional ''smart money'' step in like they did during May''s flash dip—or let retail bagholders take the hit again? Never underestimate Wall Street''s ability to profit from your panic.

Ethereum Price Corrects Gains

Ethereum price found support near $2,440 and started a recovery wave, like Bitcoin. ETH price recovered above the $2,500 and $2,550 resistance levels.

The price even spiked above the $2,620 resistance. There was a move above the 23.6% Fib retracement level of the downward move from the $2,880 swing high to the $2,440 low. However, the bears remained active NEAR the $2,660 resistance zone.

The bears defended the 50% Fib retracement level of the downward move from the $2,880 swing high to the $2,440 low. The price is again moving lower below $2,600. ethereum price is now trading below $2,575 and the 100-hourly Simple Moving Average.

Besides, there is a bullish trend line forming with support at $2,525 on the hourly chart of ETH/USD. On the upside, the price could face resistance near the $2,620 level. The next key resistance is near the $2,640 level. The first major resistance is near the $2,660 level.

A clear MOVE above the $2,660 resistance might send the price toward the $2,720 resistance. An upside break above the $2,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,800 resistance zone or even $2,880 in the near term.

More Losses In ETH?

If ethereum fails to clear the $2,660 resistance, it could start a fresh decline. Initial support on the downside is near the $2,540 level. The first major support sits near the $2,525 zone and the trend line.

A clear move below the $2,525 support might push the price toward the $2,500 support. Any more losses might send the price toward the $2,440 support level in the near term. The next key support sits at $2,350.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 zone.

Major Support Level – $2,500

Major Resistance Level – $2,660