Ethereum Rebound May Be Just a Correction, Analyst Warns

An Ethereum analyst warns that the recent rebound in the cryptocurrency's price may not be a strong recovery, but rather a correction. The $1,820 level is crucial for determining the direction of the market, with a fall below it potentially triggering a deeper sell-off targeting $1,500 and $1,400, and $1,000 as major support.

The analyst notes that despite holding above a key trend line, the broader trend remains bearish, with resistance near $2,045 testing bullish strength. The current pattern is compared to previous bear-market rallies that ended in sharp declines, suggesting lower prices are more probable unless a strong upward impulse emerges.