Ethereum Holds the Line at $2.4K as Bulls Eye $4K Comeback

Ethereum rebounds from a 63% correction, finding key support at $2,485 as whales and institutions steadily accumulate positions.

ETH trades between critical zones of $2,110 and $4,100, signaling a pivotal phase that could define its next major price direction.

Price action shows bullish momentum building after a rounded bottom near $1,500, suggesting a potential retest of $4K in the coming months.

According to analyst TedPillows analysis, Ethereum’s price action continues to stir debate as the asset trades at a crucial support zone around $2,485. After a steep correction that followed its November 2024 peak, ETH now shows early signs of potential recovery. The digital asset lost nearly 63% from its local top of $4,104.98 to bottom near $1,500 in March 2025. This sharp drop has left many retail traders shaken, while whales and institutions seem to be accumulating.

ETH Rebounds After Deviation from Market Structure

From late 2023 to early 2024, Ethereum rallied from $1,500 to $4,000, establishing a strong uptrend. By March 2024, it reached $4,104.98, forming a resistance level. However, ETH failed to hold these highs and retraced to $2,500 by mid-2024.

Source: TedPillows

Besides this, the asset consolidated between $2,500 and $2,800 during the summer before launching another rally. Consequently, ETH retested $4,100 by November. Yet again, it failed to break resistance, leading to a violent correction.

The decline intensified in early 2025. Prices dropped almost vertically through January and February, eventually bottoming at $1,500 in March. Notably, this support level matched the previous year’s launchpad, adding technical confluence.

Key Levels and Momentum Shift

The analyst illustrates a rounded bottom, signaling a deviation and potential trend reversal. A strong green candle pushed ETH back to $2,485, reclaiming prior levels and testing former resistance at $2,110.83. This suggests that bulls may be regaining control.

Moreover, two critical zones stand out—upper resistance at $4,104.98 and key support/resistance at $2,110.83. These levels have influenced price direction repeatedly. Currently, ETH trades between these zones, indicating a pivotal phase.

Additionally, this week’s candle opened at $2,513.45 and hit a high of $2,738.54 before dipping. With the red candle closing below the open, short-term sentiment remains cautious. However, accumulation under resistance zones hints at a potential rally if volume sustains.

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