Ethereum, Technical Analysis – H1

Ethereum, like Bitcoin, remains under strong selling pressure but is currently undergoing a local corrective rebound after bouncing from the key psychological support at $1,500. The nearest major supply zone is located at $1,620, where renewed bearish momentum could emerge. However, there is no certainty that price will necessarily retest this level.

Key Levels:

◽ Support: $1,500

 ◽ Supply Zone: $1,620

Primary Scenario:

The market is expected to remain in consolidation before the next leg lower. Within this scenario, the corrective rebound could extend toward the $1,620 supply zone.

Alternative Scenario:

A direct decline from current levels, with a break below $1,500.

Analyst Commentary:

The market continues to lull traders into a false sense of security. There is still no convincing evidence that a sustainable bottom has been established.