Ethereum Price in Support Zone: Breakout Above $1.700 or New Bottom?

The Ethereum price is currently at a crucial crossroads. With a current price of $1.575, ETH sits in the middle of a support zone, and the question is which way the market will move. Analyst TedPillows outlines two clear scenarios that determine whether this is a bottom or merely a stop on the way to lower levels.

Ethereum is available at OKX and Bybit.

Bulls aim for a breakout above $1.700

According to TedPillows, a break above $1.700 is the signal that bulls need to build momentum. The chart shows multiple white arrows indicating possible recovery scenarios, where the price bounces between support levels towards higher zones. Notable levels here are $1.750 and $1.870, which serve as intermediate resistance areas.

If it manages to break above $1.700, a path opens towards $1.870 and possibly even $2.000, a level that previously acted as support and now serves as resistance. A further break above that would clear the way to $2.400, the next major resistance block visible on the daily chart.

Bears aim for a new cyclical bottom below $1.500

On the other side of the spectrum, the bears are pressing for a break below $1.500. That level is a critical threshold, as a closing price below it opens the door to even lower price zones. The chart shows bottom levels around $1.430 and $1.360 as possible targets if the support zone gives way.

The current support zone around $1.575 is technically marked as a green area on the chart, indicating that multiple analysts consider this area significant. Ethereum has already fallen sharply in recent weeks from levels above $2.000, after which the price entered a series of lower highs and lower lows. Whether the bottom is now in sight or there is still more downside room depends heavily on how the market reacts in the coming days and weeks.