Ethereum halted its descent and found support near $1,500, sparking a rally that pushed its price up by nearly 25% since early July. This rebound added over $400 to ETH's value in less than a month, reversing the sharp downturn seen in June.
The bounce back reignited bullish momentum in the market, with buyers defending higher lows consistently throughout this upward trend. Despite the price holding within a descending channel, on-chain metrics suggest strong activity and investor confidence backing up the recovery.
Key Levels to Watch
As of now, the $1,500 zone remains critical as a support floor. If Ethereum can sustain above this level, it may pave the way for a retest of recent highs around $1,900. However, breach below this support could lead to renewed selling pressure.
The upswing since July shows that traders remain optimistic, but the technical setup calls for close attention to the support boundaries to identify the next move. The recent 25% uptick not only countered June's correction but also signals the potential for sustained growth.
This article is for informational purposes only and does not constitute financial advice.
