Ethereum’s Major Support Level

Ethereum has reclaimed a significant historical support level near $2,516, but concerning divergences are emerging. While the price appears stable, key momentum indicators and declining trading activity suggest the asset may face challenges in maintaining upward pressure in the short term.

At press time, ETH traded at approximately $2,530, recovering from a recent intraday high. This price action places the market at a critical crossroads, with analysts observing if support can hold against weakening underlying strength.

Ethereum Is Holding a Historically Critical Support Level

According to a chart shared by market analyst Rekt Capital, Ethereum has once again confirmed $2,516 as a crucial support level. Previous data since 2021 show this price zone acting as a key trigger for major directional movements. ETH’s recent recovery from sub-$2,000 levels earlier in 2025 has brought the asset back above this key threshold.

Previous interactions at this level have preceded rallies toward $4,000, but Ethereum is currently encountering resistance near $2,750. This zone has consistently acted as a ceiling during earlier attempts to advance. A breakout above this barrier could pave the path to $3,900, a level last approached in early 2024. If the asset fails to hold the $2,516 zone, potential support may arise around $2,200 or within the broader accumulation area between $1,500 and $1,800.

Related: Will Ethereum’s Record 17M Weekly Users Push ETH to a New All-Time High?

Key Momentum Indicators Are Flashing Warning Signs

While the price is maintaining support, technical data indicates early signs of a bearish divergence. The Relative Strength Index (RSI 14) has dropped to 49.54, falling below the neutral 50 level. This suggests diminished buyer strength following multiple weeks of price activity above $2,600. The RSI had previously exceeded 60, but this retreat signals a potential shift in market momentum.

The MACD indicator also indicates a decline in bullish pressure. Currently, the MACD line stands at 59.04, with the signal line higher at 75.34, resulting in a negative histogram reading of -16.30. This bearish crossover typically suggests that selling activity is overtaking buying interest.

Related: Ethereum Price Drops 10%, But On-Chain Data Shows Whales Know Something Big

At the time of writing, Ethereum’s price was up 0.58%, reaching $2,533.82. However, daily trading volume decreased by 45.66% to $21.6 billion. This decline in volume contrasts with the price rebound and may indicate weakening short-term conviction.

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