Ethereum lost 12.5 percent in value in the last thirty days, showing the weakest performance among the top five cryptocurrencies with the highest market value. ETH continues to trade slightly below the $2,010 level, while the price is also trending below the 100 hourly simple moving average.
Support and Resistance Zones
After the ETH price dropped to $1,965 recently, buyers tried to recover the price. However, as the selling pressure increased again, the upward movement remained weak. Technical indicators are pointing to increased downside risk, especially with a breakout of the bullish trendline at $2,015 on the hourly chart.
On the daily chart, the relative strength index (RSI) fell to 32, approaching the oversold zone, but did not completely enter this zone. It is stated that if there is a daily close below $ 2,000, the downward movement may deepen. Just below it, $1,965 is short-term support, followed by $1,920 and $1,850 levels, respectively. The main demand area is at $ 1,780.
Historical Data and Analyst Comments
According to historical data, Ethereum’s June months were generally negative. According to CoinGlass data, the ETH price has decreased this month in seven of the last ten years, and losses have been limited to 1.5 percent in some years and up to 45 percent in some years.
Analyst Ali Charts evaluated the current price movement of ETH in his post on the social media platform X. According to the analyst, the $1,825 band offers an important entry opportunity in terms of risk-return, and if the price holds above $1,750, the targets are seen as $2,073 and $2,360, respectively.
Technical analyst Ali Charts said, “ETH is approaching the bottom in the current channel structure, the region around $ 1,825 may offer a short-term strategic entry opportunity. If the price continues to stay above $ 1,750, the targets may be $ 2,073 and $ 2,360.”
Mini glossary: The Relative Strength Index (RSI) is a technical analysis indicator that measures whether an asset is overbought or oversold, helping to determine the strength of momentum in the market. When the RSI falls below 30, it may signal oversold, and when it rises above 70, it may signal overbought.
Futures and Market Expectations
Despite the loss of value in Ethereum, activity in the futures market increased. According to CoinGlass data, on May 27, the number of open positions reached an all-time high of 15.98 million ETH. When this data is measured in ETH, it is free from price fluctuations and indicates investors’ expectation of a significant price movement.
The recent decline of the weekly RSI below the 30 level indicates that the price has shown significant recoveries in the 6 to 12 month period in the past three similar cases. However, the $2,050 level needs to be regained in the short term. If this resistance is overcome, $2,085, 2,120, and then $2,150 can be targeted.
Market Dynamics and Benchmarking
Recently, rival crypto assets such as BNB and hyperliquid New products such as new ETFs attract the attention of investors in the USA. On the other hand, comments are made that Ethereum is lagging behind in this area. Short-term trends become evident, especially with the impact of ETF news on the market.
| Cryptocurrency | Losses in the Last 10 Years in June | Performance in the Last 30 Days | Critical Support |
|---|---|---|---|
| Ethereum | Negative closing, 1.5% – 45% decline in 7 years | -12.5% | $1,800 |
| BNB | No data | Above market average | New ETF support in 2 months |
While ETH is still trying to find a buyer below $2,010, the market is closely monitoring whether the $1,965 region can be maintained in the short term. If the lower support points are broken, eyes can be turned to the $ 1,800-1,780 band.
