Ethereum has regained his major Historical The support level is close to $2,516, but there is a worrying vent. Prices appear to be stable, but key momentum indicators and reduced trading activity suggest that assets may struggle to maintain upward pressure in the short term.
At press time, ETH traded for around $2,530, recovering from its recent high. This price action places the market at a critical intersection, and analysts see if support can be held in the face of weakening underlying strength.
Ethereum holds a historically important level of support
Ethereum once again confirmed $2,516 as a key support level, according to a chart shared by market analyst Rekt Capital.
History data It shows that since 2021 this price range has repeatedly functioned as a key point in key directional movements. With ETH’s latest recovery from the $2,000 level before 2025, the assets have returned above this key threshold.
Previous interactions at this level preceded the rally to $4,000, but Ethereum is now facing nearly $2,750 in resistance. This zone has consistently served as a ceiling during previous attempts to advance. A breakout that surpasses this barrier could pave the way for the $3,900 level, the last approaching level in early 2024. If the assets are unable to hold the $2,516 zone, the possibility of support could reappear in a wider accumulation area between about $2,200 or $1,500 and $1,800.
Related: Will Ethereum’s record 17m weekly users push ETH to the newest ever?
Important momentum indicators are flashing warning signs
While prices retain support, technical data shows early signs of bearish divergence. The relative strength index (RSI 14) fell to 49.54, below the neutral 50 level. This suggests a weaker buyer muscle after several weeks of price activity exceeded $2,600. While RSI has been above 60 in recent sessions, the retreat shows a shift in market momentum.
Source: TradingView
The MACD indicator also reflects a drop in bull pressure. The MACD line is currently 59.04, the signal line is high at 75.34, producing a negative histogram read of -16.30. This bearish crossover usually indicates that sales activities are overtaking interest on purchases.
Related: Ethereum prices drop by 10%, but on-chain data shows that whales know something big
At the time of writing, Ethereum prices rose 0.58% to $2,533.82. However, daily trading volume fell 45.66% to $21.6 billion. This volume reduction is in contrast to price rebounds and could indicate a weakening of short-term convictions.
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