Technical Analysis of Ethereum: Market Outlook on June 29, 2025

Technical analysis of Ethereum on June 29, 2025, focusing on support/resistance and key indicators.

As of June 29, 2025, Ethereum (ETH) is undergoing a corrective phase, with technical analysis indicating a short-term bearish trend. The current price fluctuates around $2,438, near a key resistance zone between $2,550 and $2,600. This zone has historically acted as a strong price barrier, and recent price action shows rejection from this level, suggesting short-term selling pressure. On the four-hour chart, Ethereum recently broke out of a descending channel but failed to sustain above the trendline, now consolidating below it. A critical support zone lies around $2,375, which has previously shown strong demand. If this level breaks, a deeper correction toward $2,100 is possible, aligning with the 0.5 Fibonacci retracement level. The Relative Strength Index (RSI) is currently at 42, indicating a neutral state with a slight bearish bias. The 200-day Moving Average (MA200) at approximately $2,450 serves as dynamic support. If the price remains below this level, selling pressure could intensify. However, staying above the MA200 could signal a mid-term bullish reversal. From a price pattern perspective, Ethereum is forming a symmetrical triangle, which could lead to a strong move in either direction. Given the recent rejection from resistance, a move toward lower support levels seems more likely. Still, a temporary bounce to $2,480 before resuming the downtrend is possible. Fundamental factors, such as ETF inflows and stablecoin regulation news, are also influencing Ethereum’s volatility. For traders, the best approach is to wait for confirmation of a breakout above resistance or below support. Setting stop-loss orders below $2,375 for short trades or above $2,600 for long trades is recommended. Risk management is critical in this volatile market, as Ethereum is prone to sudden price movements. Overall, the current outlook suggests Ethereum may test lower support levels in the short term, but holding above the MA200 could indicate mid-term bullish potential. Traders should closely monitor the market and avoid impulsive decisions.