Following the technicals of ETH

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Technical Analysis

Everyone knows Ethereum (Eth) to be the little brother of Bitcoin. Eth, as of today 7/1/25, is currently sitting as the second biggest market cap of crypto at just under $291 Billion. Cryptocurrency has come a very long way in the last two years and yet, it is still just getting started. People are drawn to Eth because it is still one of the more popular names in crypto and is also still sitting at a lot less intimidating price of just $2409 (at the time of writing this article). The reason Eth is at a much more lower price is because there is a lot more Ethereum in circulation than there is Bitcoin. Ethereum has a total supply of 120.71M where as Bitcoin only has 19.88M of total supply.

The more important question we want to focus on is when should I buy? That’s always a tough question with any cryptocurrency as I described in my Bitcoin article. Crypto is affected by any world news and multiple world markets. When there is so much news going on, sometimes its best to look at some technical analysis to get a helpful idea where to dive in. As of today, Eth is literally almost exactly 50% from its all time high.

As you can see in the above chart, just in 2024 Eth tested the $4000 - $4100 range three times and got rejected each time. This is seen on the daily chart. Each time it got rejected it posted a lower low with not a lot of good rhyme or reason for its support areas.

As you can see in the daily chart below, I put a few support lines in where Eth bounced on each of its pull backs. These lines are nothing to be proud of because there are definitely other support lines that can be drawn that I would agree with. After a lot of consideration I feel like these are best explainable. Line 2 shows a support from the first large pull back in July of 2024. This is supported by the upward movements in July of 2023 and July of 2022. Line three shows the second large pull back in early 2025 but as you can see to the left, there is no real good support here which means it may have bounced on news or a bitcoin bounce.

Finally the line that I’m paying attention to the most right now is line 1, the diagonal line moving through the other two. This trend line shows the higher lows as Eth has continued up. However, the concern is that in January of 2025, it fell straight through this trend line turning what was a support line into a resistance line. Eth made it back through this resistance line and used it as a support again up until recent weeks where it dipped through it again and bounced off the support of Line 2. Now Eth is dancing around Line 1 trying to figure out its next move.

Lets move in a little bit and take a closer look at the last two months in the last chart above. This is bearish. for three months Eth was building a bullish flag after a strong move up but fell through the bottom support line of this flag. This line is now a resistance line which has rejected Eth for multiple days. I projected that Bitcoin was in a bad place yesterday at $107K and today it fell back to $105k with room to keep going. I think Eth is in the same boat and may fall back a little more. I put a support line in at $2110 where it just dipped about two weeks ago. I think the ideal buy in would be to see Eth dip again, test this support line and in doing so creating a double bottom (which is bullish) and bouncing back into this bullish flag breaking through that resistance line and up to $3k.

A Final Note

Now, that is a lot. Remember, just two and a half months ago Eth was half this price of where it is now. Cryptocurrency is in its own world and doesn’t follow normal market guidelines. Anything can happen. Get multiple perspectives before buying in and above all don’t invest what you can’t afford to lose.