Ethereum is currently fluctuating around $1,700, a price range similar to that seen in March 2021. The market is divided on whether this level is forming a temporary bottom or merely a brief pause in the downtrend.
Looking at intraday performance, ETH has risen slightly by 0.48% over the past 24 hours, fluctuating between $1708 and $1742. Although the decline has slowed, buying interest has not yet provided stronger trend confirmation.
Prices have returned to the range seen in 2021.
Analyst Ali Martinez points out that Ethereum's current price is similar to the level of around $1,700 in March 2021. This means that, looking at a longer timeframe, after a significant rise and deep pullback, ETH's price has returned to the range it was in several years ago.
This phenomenon does not indicate that the Ethereum network itself has stopped developing, but it does suggest that the price has not retained all the gains from the previous bull market. Therefore, the market is currently more focused on specific price levels rather than discussing the long-term narrative.
Market focus is on $1060 and the resistance level above.
Martinez believes that if Ethereum subsequently falls below higher support levels, $1060 could become the next value range to watch. If the price can hold the current macro support and gradually recover lost ground, it could potentially target $2850 and $4630 in the short to medium term.
- $1825: This can be seen as an initial signal of strengthening.
- $2,000: A stronger trend-correction level
- $1500 to $1300: If it weakens again, it may retest [the previous range].
Another analyst, Michaël van de Poppe, is more optimistic about the medium- to long-term outlook, but in the short term, the market still needs to see prices break through key resistance levels, accompanied by stronger trading volume, to confirm a more solid foundation for the rebound.
Technical indicators and exchange outflows
Short-term indicators have shown some improvement. The MACD histogram has turned positive, and the MACD line is above the signal line, indicating that bearish momentum is weakening and the market is attempting to recover.
However, both MACD lines are still below the zero line, which is more like an early rebound than a completed trend reversal. Although the RSI is above its own moving average, it is still below the neutral threshold of 50, indicating that buyers have not yet fully taken control.
CryptoQuant analyst Rei Researcher stated that Binance experienced a net outflow of Ethereum in June 2026, when the ETH price was roughly around $1710. Increased outflows from exchanges typically mean that some holders are transferring assets to cold wallets or staking them, which reduces the amount available for immediate sale on the spot market, thus alleviating selling pressure to some extent.
