The price of ETH is holding steady around $2,463, while the nearest resistance level is at $2,470. Whether the uptrend continues or the market enters a correction will largely depend on this level, according to tradingview.com.
Finam: Growth Will Be Supported by Fed Policy Easing
Nikolay Dudchenko, an analyst at the Finam financial group, attributed the recent rise in ETH to changes in the quantitative easing program and the weakening of the U.S. dollar. According to him, these same factors had previously driven Bitcoin higher as well.
The expert identified the $2,470 level as a local hurdle for bulls. If buyers break through this level, the next target could be $2,800.
In the long term, the analyst sees the market maintaining positive asymmetry—the trend remains upward. According to Finam’s base-case scenario, the rally could continue.
Qwerty Analytics: A Correction Is Likely After Short Stops Are Tripped
Investor and author of the Qwerty Analytics channel, Sergey Gurdyumov, noted that in August, ETH outperformed even BTC, gaining nearly 40%. During this rally, the price triggered short sellers’ stop-loss orders and reached a monthly imbalance level, from which the expert expects a decline.
Despite the correction forecast, the analyst allows for continued growth within the same monthly imbalance range—from $2,450 to $2,780. For the ETH/BTC pair, he sees a shift in momentum: since May 2025, Ethereum has been outperforming the oldest cryptocurrency.
Therefore, the correction in ETH will be less severe than in BTC, Gurdyumov believes. He expects prices to move toward the $2,250–1,930 range, where an inverted weekly imbalance is located—this zone will act as support and a good place to look for long positions.
According to him, for both BTC and ETH, we shouldn’t rule out the possibility that the entire rally could turn out to be a bull trap and that prices could fall below this year’s lows, where there remains sufficient liquidity. In such a case, market sentiment will be deeply depressed, which will later facilitate an even more aggressive rally. In any scenario, the expert advises accumulating spot positions on dips to avoid being left without assets in the event of an upward reversal.
Technical Outlook: Indicators Are Overbought
On the ETH/USD daily chart, oscillators indicate overheating following a sharp upward surge. The Stochastic oscillator remains in overbought territory with readings of 85.31 and 88.49, while the RSI has risen to 69.15–73.19—near the upper boundary, beyond which a pullback typically follows.
This picture aligns with a number of experts’ expectations of a correction: after a nearly 40 percent rally, the market may need a pause. That said, if the price remains above $2,470, it would confirm the strength of buyers and pave the way for higher levels.
The $2,400–2,700 range remains key: staying within it leaves room for the rally to continue, while a drop would reinforce the scenario of a deeper decline.
