Ethereum’s recovery has brought $2,100 into focus, but analysts disagree on whether the move can extend toward $2,500. Holding reclaimed support could strengthen the rebound, while rejection near resistance may trigger another correction. Ethereum Reclaims Key Support as $2,500 Target Holds Ethereum has moved back above the $1,825 support level after forming a possible bullish divergence near its June lows. Analyst Michaël van de Poppe said the recovery keeps the broader target around $2,500 intact despite the latest market correction. ETH daily chart. Source: Michaël van de Poppe/TradingView The daily chart shows ETH rebounding from the $1,505 area and recovering above its short-term moving averages. Price is now attempting to turn the former $1,825 resistance level into support, which would strengthen the case for further upside. The next major resistance sits near $2,465, followed by a broader target zone between roughly $2,500 and $2,620. Reaching that area would require ETH to maintain its current structure and break above the lower highs formed since May. However, the setup remains vulnerable while ETH trades below $2,000. A daily close below $1,825 could weaken the recovery and bring the $1,700 area back into focus. A deeper breakdown would expose the June support near $1,505. For now, Ethereum’s rebound remains active. Holding above $1,825 would support a move toward $2,000 and eventually $2,500, while losing that level would delay the bullish scenario. Ethereum Faces $2,100 Test Before Deeper Correction Risk Ethereum could extend its recovery toward $2,100 before facing another major correction, according to an Elliott Wave setup shared by analyst CobraTrader. The chart identifies that area as a possible fourth-wave top near the 0.31 Fibonacci retracement level. ETH four-day chart. Source: CobraTrader/TradingView The $2,100 region represents the first major resistance in the setup. ETH would need to break above its recent recovery structure and hold the level to weaken the bearish Elliott Wave count. However, the analyst expects the fourth-wave rebound to remain temporary. A rejection near $2,100 could begin a fifth corrective wave toward the broad $1,000 to $1,250 support zone. The chart places additional support around $1,505, where ETH previously formed a major low. Losing that level would strengthen the case for a deeper decline and bring the lower green accumulation zone into focus. The longer-term projection remains bullish after the correction. The analyst’s path shows ETH recovering from the projected bottom and eventually moving above $3,400, with a possible extension toward $5,000. For now, $2,100 is the key decision level. A rejection would support the deeper correction scenario, while a sustained breakout could invalidate or delay the bearish wave structure.
