Ethereum Just Hit Key Support – What Happens Next Will Shock You

Ethereum, the second-largest cryptocurrency by market cap, is now teetering at a key technical level. After peaking near $3,800 in May 2025, ETH price has steadily declined and is currently hovering around $2,260. With bearish sentiment growing and key support levels being tested, traders are wondering—will Ethereum price bounce soon, or is a deeper drop on the horizon? The next few days could be crucial for ETH’s medium-term direction.

Ethereum Price Prediction: Why Is Ethereum Price Falling?

ETH/USD Daily Chart- TradingView

Ethereum price is currently trading at $2,262, recovering slightly after a low of $2,223 on the daily chart. The price has been in a clear downtrend since hitting a local high near $3,800 in early June. This correction follows a strong May rally and now seems to be driven by broader market weakness, ETF outflow fears, and Bitcoin’s recent dip below $62,000.

What Does the Chart Say?

The chart uses Heikin Ashi candles, which smooth out price action to better visualize trends. Over the last several days, ETH price has printed consistent red candles with little to no upper wicks—clear evidence of bearish momentum.

We can spot multiple horizontal support levels drawn between $2,200, $2,000, and $1,700. These levels are former accumulation zones and Fibonacci retracement levels from the March–May rally. Ethereum price is currently testing the 0.618 Fibonacci level, which sits around $2,250—a historically strong support zone.

RSI Points to Oversold Conditions—But Is It Enough?

The Relative Strength Index (RSI) is currently at 34.98, dipping into the oversold territory (below 40). Historically, such low RSI levels often signal a potential bounce. However, the downward-sloping RSI trendline suggests momentum is still bearish and there’s no clear bullish divergence yet.

To visualize this:
If RSI bounces and breaks above 40, while ETH price holds above $2,250, it may trigger a short-term relief rally back toward $2,500–$2,600.

What’s the Next Support and Resistance?

• Immediate Resistance: $2,300 and $2,480
• Immediate Support: $2,200
• Key Support Zone: $2,000 and then $1,700

If Panic Selling Continues: ETH price could even revisit $1,450–$1,500, which coincides with the 0.786 retracement of the earlier rally.

Ethereum Price Prediction: How Low Can ETH Price Go?

Let’s take the last swing high of $3,840 and swing low of $2,223 (current daily candle low):

• 0.618 Fibonacci retracement = $2,270 (already being tested)
• 0.786 Fibonacci = $1,750
• Full retracement = $1,600–$1,450

If the market doesn’t hold the $2,200–$2,250 zone, ETH could drop another 22% from here.

Is a Reversal Coming Soon?

A reversal is possible only if ETH price daily candle closes above $2,300 and RSI starts trending upward. For now, sellers are in control, but we are nearing exhaustion levels. A bullish engulfing candle with rising RSI would be a reliable signal of a short-term reversal.

Ethereum price is in a vulnerable technical position right now. The support at $2,200 is critical. A breakdown below this could trigger a sharp decline, while a strong bounce could push ETH price back toward $2,500. Traders should keep an eye on RSI recovery, volume spikes, and BTC’s next move before taking any positions. Ethereum’s next 3–5 days could define its Q3 trajectory.

How to Buy Ethereum (ETH) on Bitget?

Getting started with Ethereum on Bitget is quick and easy. Just follow these steps:

1. Create a Bitget Account
Sign up using this referral link to receive a welcome bonus:
https://partner.bitget.com/bg/cryptoticker

2. Complete Identity Verification (KYC)
Secure your account by verifying your identity. Submit your ID documents to complete the KYC process and unlock full access.

3. Fund Your Bitget Wallet
Deposit money into your account using a debit/credit card, bank transfer, or cryptocurrency. Bitget offers several flexible funding methods.

4. Access the Trading Dashboard
Navigate to the trading section and search for the ETH/USDT pair. You can also enter “Ethereum” or “ETH” in the search bar.

5. Buy Ethereum (ETH)
Enter the amount you’d like to purchase, review your trade, and confirm. Once done, your ETH will be instantly added to your Bitget wallet.

$Ethereum, $ETH, $EthereumPrice

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