Ethereum Market Shows Signs of Overheating Near $2,500
Ethereum (ETH) is currently around $2,500, showing signs of market exhaustion. Analysts predict a potential short-term pullback before attempting to break higher resistance levels.
Market Analysis
- CryptoQuant reports ETH is in an overheated rally, indicated by rising trading volume.
- The price surge since mid-April 2025 led to a shift from Cooling to Overheating conditions.
- Profit-taking and supply at the $2,500 level are contributing factors to the current market state.
- ETH has increased by 59.7% over the past month, outperforming Bitcoin (BTC).
- Consolidation is expected until new demand drives a breakout above resistance.
ETH must hold above $2,200 to maintain bullish momentum, with targets set at $3,000 or $4,000 if buying pressure increases.
Future Projections
- Analyst Ted Pillows notes a recent Golden Cross on ETH's 12-hour chart, indicating potential for major price rallies.
- Pillows predicts a possible move to $4,000, aligned with a significant symmetrical triangle pattern since Q3 2020.
- Analyst Gianni Pichichero warns of a possible retracement to $2,350 due to bearish signals on the daily chart.
- ETH is currently up 3.6% in the last 24 hours.
