Ethereum Price Prediction: Relief Rally or Another ETH Dump Next?

Ethereum is recovering toward $2.55K after buyers responded to the latest selloff near a key demand area. The rebound preserves the broader ascending structure, but ETH still needs to reclaim overhead supply to demonstrate a more durable recovery. Ethereum Price Analysis: The Daily Chart On the daily timeframe, Ethereum’s correction extended into the $2.36K–$2.42K demand zone before producing a notable lower wick and several recovery candles. The price has since climbed toward $2.55K, suggesting that buyers are defending the region following the sharp decline from the recent consolidation. ETH also remains within the broader ascending channel and above both major moving averages. The 100-day average sits near $2.24K, above the 200-day average around $2.14K, maintaining the bullish crossover established earlier. However, this supportive backdrop has yet to translate into a recovery of the lost resistance levels. The highlighted $2.66K–$2.74K supply zone represents the main nearby barrier. Reclaiming this area would strengthen the recovery scenario and allow another challenge of the recent $2.8K high, followed by the $2.9K–$3K resistance region. Conversely, renewed selling would brin...