$eth ETH/USD – Technical Outlook

Ethereum remains under pressure after facing rejection from the $2,200–$2,500 resistance zone, with price currently trading near $1,620 and testing the Monthly Support-1 region ($1,390–$1,755). The chart suggests a larger corrective structure is still unfolding, with a potential confluence target where the B and C wave extensions converge.
Bullish Scenario
Holding above $1,390 could attract buyers and trigger a rebound toward $1,755.
A sustained breakout above the $2,200–$2,500 resistance zone would improve the medium-term outlook and reopen the path toward $4,956.
Bearish Scenario
A decisive break below $1,390 may accelerate selling pressure toward $1,039.
Extended weakness could expose the final support zone near $603, which aligns with the projected completion area of the corrective pattern.
Key Levels
Support: $1,390 | $1,039 | $603
Resistance: $1,755 | $2,200–$2,500
View: Cautious while ETH trades below the resistance zone. The $1,390 support remains critical; holding this level could spark a recovery, while a breakdown may lead to a deeper correction before the next major bullish cycle begins.