Following the rapid depreciation, Ethereum entered an important accumulation zone by retreating to the level of $ 2,129. The price approaching this level attracts the attention of investors under the pressure of weak market sentiment, rising bond yields and technical data. It seems that the support area is being watched closely, especially in the ETH/BTC parity.
Expectations After Price Correction
Michaël van de Poppe, one of the market’s leading analysts, argues that Ethereum has experienced a serious correction and these levels offer a buying opportunity. According to Van de Poppe, when market expectations generally turn negative, opportunities may arise for long-term investors.
Van de Poppe stated that although the market looks negative, it is a suitable period to accumulate Ethereum and emphasized that the right moves usually occur at points when investor psychology is at its lowest.
Developments in the bond market also put pressure on Ethereum and crypto markets. The fact that benchmark country bond yields are approaching historical peaks reduces the attractiveness of returns on the decentralized finance side and may limit the interest in crypto.
Mini dictionary: Bond yield is the interest rate offered to investors by debt instruments issued by the government or private sector. When yields rise, the appeal of riskier investment alternatives decreases.
Additionally, recent DeFi vulnerabilities and exploit news also lead to caution. On the other hand, the possibility of changes in the regulatory environment with the CLARITY Act, which is expected to be voted on in June, increases uncertainties regarding the future potential of the Ethereum ecosystem.
ETH/BTC Parity and Network Strength
Ethereum’s performance against Bitcoin is among the issues closely watched in the market. ETH/BTC parity recently failed to surpass the 0.03250 level and then fell towards the 0.0260 region, which is viewed as support. According to analysts, the direction finding process in ETH/BTC may take a few more weeks.
On the technical side, ETH/BTC’s daily RSI indicator has fallen below 30. Although market participants generally interpret this level as ‘oversold’, it is stated that this does not necessarily mean a change in direction. The strength of Ethereum against Bitcoin is an important indicator in terms of the general movement of the altcoin market.
Technical Analysis: Featured Levels in Ethereum
On the daily charts of Ethereum against the US dollar, the price is trading at around $2,129. Having remained below the main distribution zone, that is, long-term resistances, between 2024–2025, ETH is currently in the lower half of the $1,575–4,528 range.
Several important Fibonacci retracement levels were lost during the decline: $3,094, $3,401, and $3,616. The nearest resistance level is positioned around $2,700; If the price exceeds this point, buyers can be expected to re-enter the market. Then, a move to the $3,100–$3,400 range is seen as critical for a broader recovery.
Short-term support is followed by the range of 2,000-2,100 dollars, and in the lower band, the range of 1,800-1,900 dollars. In the long term, the main support lies at the $1,575–$1,600 levels, and if the price falls below this permanently, the weak trend in the market may deepen.
Momentum indicators do not give positive signals yet. On ETH/USD, the MACD indicator remains below the signal line, while the RSI is measured at approximately 36.5. These levels indicate a weak outlook in the market.
