The second-largest cryptocurrency hasn’t been at its best lately, plummeting by double digits over the last 30 days and trading far below its all-time high of almost $5,000 witnessed in the summer of 2025.
However, the past 24 hours brought some hope for the bulls, as ETH rocketed from $1,800 to over $2,000. Some market observers believe a more profound rebound could be on the way, while others think the valuation has yet to reach its bottom.
Rally Soon?
Ethereum (ETH) has soared by over 10% daily, currently trading above the $2,000 psychological zone. However, it remains 30% down on a monthly scale, while its market capitalization has shrunk to approximately $237 billion.
Despite the major correction, many analysts remain optimistic. X user KALEO observed the asset’s recent performance and argued that it might be on the verge of a bounce. They assumed that ETH has formed a “clean double bottom off HTF support” and may be ready to spike above $2K.
“More FUD than I’ve ever seen on the timeline. Send it with haste,” the analyst added.
Merlijn The Trader also chipped in lately. He claimed that ETH is sitting in a five-year demand zone, emphasizing that this area has historically acted as a place where investors accumulate rather than distribute.
“You don’t need the exact bottom. You need exposure before expansion. Big bases don’t drift. They reprice,” he stated.
X user StockTrader_Max shared a similar thesis, arguing that ETH has evolved into “a long-term investment with slower, steadier growth that rewards patience and conviction rather than hype and timing.” The analyst believes the asset should be held in many portfolios, with a time horizon of years rather than months.
Meanwhile, some industry participants noted that whales have been quite active lately and increased their exposure to ETH. X user Crypto Rover shared a CryptoQuant chart, showing that large investors now own over 24 million tokens, or more than 20% of Ethereum’s circulating supply.
Whales’ activity is closely monitored by smaller players who might mimic their moves and enter the ecosystem with fresh capital. Additionally, it is commonly believed that large investors rarely make irrational purchases and may have inside information about upcoming events that could influence valuation.
Last but not least, ETH’s exchange reserves remain quite close to the nearly 10-year low recorded earlier this month. This trend shows that investors don’t rush to transfer their holdings to centralized platforms: a move often considered a pre-sale step, and which can cause an additional price slump.
Are the Bears Here to Stay?
Many other analysts presented rather pessimistic views on the matter. X user Crypto Tony warned of new lows if the price plunges below $1,820, describing that level as “the last line of defence.” They later argued that if the bulls decisively reclaim $1,940, then “we are back in business.”
Ali Martinez and Lucky also gave their two cents. The former claimed that the next major support levels for ETH, should it break below $1,800, are $1,584, $1,238, and $1.089.
The asset’s Relative Strength Index (RSI) is another bearish factor to watch. Due to the price rebound experienced over the past hours, the tool’s ratio has risen above 70, signaling that ETH is overbought and could be due for a correction. The RSI is an important metric often used by traders, and conversely, anything below 30 is considered a buying opportunity.
The post Top Ethereum Price Predictions as ETH Reclaims $2K appeared first on CryptoPotato.
