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Ethereum is trying to rebound from fresh lows, but the move still looks corrective while price stays below major resistance. Buyers need to defend the 2025 low near $1,385, or $ETH could extend its downtrend.
Ethereum Bounce Faces Resistance Near $1,668
Ethereum is attempting a short-term rebound after forming a new low, but the broader setup still points to a corrective move rather than a confirmed reversal.
$ETH/USD 30-Minute Chart. Source: @Morecryptoonl on X
The chart shows $ETH trading near $1,580 after bouncing from Friday’s low. The analyst’s preferred Elliott Wave count suggests 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, not 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 Nears 2025 Low as Falling Channel Holds
Ethereum is trading near a major support area around its 2025 low while price remains trapped inside a falling channel.
$ETH/USDT Daily Chart. Source: @Karman_1s on X
The chart shows $ETH trading near $1,560 after extending its decline from the 2025 peak. Price remains below the channel’s upper boundary, keeping the broader structure bearish.
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.