Ethereum Technical analysis: Major Levels To Trade And Watch

After an over 100% rally from the April 2025 lows, Ethereum has retraced in the last three weeks. The second largest cryptocurrency by market cap has fallen from $2,880 to its current $2,425.

While only 16% off its highs, Ethereum has bigger issues. Price broke below key support at $2,570. This resistance is the lower trend line of a parallel channel. The high end of the parallel channel stopped price from going up, now the low-end support has broken and is has become resistance.

Traders and investors should watch to see if Ethereum can break through the $2,570 level. If it does, the upper trend line of the parallel merges with a horizontal trend line at $3,025. This will be major resistance.

Should Ethereum fail to recapture $2,570, it is probable price will fall to $2,120, the recent pivot low and past major pivots.

Please refer to the annotated chart above.

Written by Chief Market Strategist Gareth Soloway of www.VerifiedInvesting.com