Ethereum Dips Below $2,500, But Analyst Targets Mid-$3Ks if Key Resistance Breaks

Ethereum (ETH) has dropped to $2,498.99 at the time of writing, retreating from its recent highs above $2,650.

The 7-day price chart shows a sharp decline on June 6, which wiped out early-week gains, triggering a steep sell-off before ETH began to recover toward the $2,500 level.

Despite this pullback, crypto analyst Altcoin Sherpa remains bullish on Ethereum’s mid-term outlook. In a post on X, he said that if ETH can break through the current supply zone, the next upside target could land in the mid-$3,000s.

“I’m still bullish on ETH in the mid-term… there should be some rallies here and there,” he wrote.

Volume and Market Structure Insights

According to CoinMarketCap, Ethereum now has a market cap of $301.68 billion, up slightly by 0.74% in 24 hours. Daily trading volume sits at $14.85 billion, having dropped over 49%, indicating that the dip may have been driven by short-term traders exiting after the recent rally.

Sherpa’s chart highlights a key volume profile resistance zone between $2,500 and $2,700. ETH is currently testing the lower boundary of this region. A sustained move above this could clear the way for momentum toward the $3,000–$3,300 range, where lighter resistance lies.

📈 Key Ethereum Levels to Watch:

Support: $2,430 – short-term demand zone (from 1D/4H chart structure) Resistance: $2,700 – high-volume node zone, crucial to flip Mid–Term Target: $3,000–$3,300 – next major zone on the chart Breakout Threshold: $2,750+ – confirmation of breakout from range

Outlook: A Make-or-Break Zone

Ethereum’s current zone between $2,450 and $2,700 is proving pivotal. If bulls can defend the $2,450–$2,500 area and push ETH above $2,700 with volume, it could trigger bullish continuation toward higher levels in Q2–Q3 2025.

However, failure to break through the high-volume resistance zone may keep ETH range-bound or even vulnerable to further dips, particularly if Bitcoin remains dominant.

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