Ethereum remains solid above key support levels despite the broader market pullback in recent weeks. While many altcoins have shown weakness, ETH continues to trade above the $2,400–$2,500 range, signaling strength and positioning itself for a potential recovery. After a volatile start to the year marked by a sharp decline, analysts are increasingly calling for a breakout, with some suggesting that Ethereum could soon regain lost ground if current conditions persist.

However, not everyone agrees on the bullish outlook. Some traders warn that Ethereum's recent consolidation could lead to another downturn, especially if resistance around $2,800 remains unbroken. The debate highlights the uncertainty enveloping the market as macro risks and changing liquidity continue to affect short-term direction.

Top analyst Ted Pillows recently shared his view, noting that Ethereum is still consolidating after a strong May. While this pause appears neutral, he points out that increasing ETF inflows and rising network activity are leading indicators of new demand. According to Pillows, these signals often precede price expansion, suggesting that ETH may just be preparing for its next move.

Ethereum Holds Steady As Market Volatility Approaches a Decisive Move

Ethereum is undergoing a critical moment as the cryptocurrency market faces increased volatility and rising uncertainty. Still trading 48% lower than its all-time high, ETH has shown impressive resilience, holding above key support levels even amid fluctuating sentiment. The market remains tense after Elon Musk and U.S. President Donald Trump renewed tensions—a move that triggered risk-averse behavior and short-term volatility across assets.

Despite the noise, Ethereum continues to show underlying strength. Bitcoin remains stable near its highs, and many altcoins seem to be preparing for potential breakout moves. In this context, the coming weeks could prove decisive for ETH, which has so far managed to consolidate after a bullish May without breaking its main structure.

Ted Pillows recently noted in an update that Ethereum is still consolidating and that is not necessarily bearish. In his view, increasing ETF inflows and accelerating network activity indicate that new demand is quietly forming in the background. Historically, these are leading indicators of a breakout, and ETH seems to be in a good position to take advantage.

Momentum is shifting, and buyers are eyeing the $2,800 level as the next key threshold. Reclaiming that level could trigger a move towards $3,000 in June. Additionally, if macro conditions remain stable, Ethereum could realistically rise to $4,000 by the third quarter of 2025.

Currently, ETH is still in consolidation mode—but with strong fundamentals, technical structure, and on-chain trends, the case for a breakout is becoming increasingly compelling. The next move will be crucial, not only for Ethereum but also for the broader altcoin market as it approaches summer.

ETH Maintains Mid-Term Structure Amid Ongoing Consolidation

Ethereum continues to trade within a narrow range, holding at $2,513 after dipping to $2,479 earlier in the session. As seen on the daily chart, ETH is still consolidating below the key resistance level at $2,659, marked by the 200-day simple moving average (SMA), which has halted several bullish attempts throughout June. Although it hasn't broken through, the structure remains constructive.

The 34-day EMA ($2,435.80) and the 50-day SMA ($2,284.93) continue to serve as dynamic support. ETH recently bounced off the 34-day EMA after testing that level for three consecutive days, signaling that buyers are still present and defending key areas. Meanwhile, volume remains low, reflecting hesitation and a lack of confidence from both buyers and sellers.

Currently, the $2,430–$2,660 range defines the battleground. A daily close above the 200 SMA would indicate a continuation of bullish momentum towards $2,800. Conversely, a break below $2,430 could trigger a larger pullback to $2,200.

Ethereum's current behavior reflects a market awaiting a catalyst. With increasing ETF inflows and stable on-chain activity, momentum could quickly return, but until then, ETH remains stuck in a range-bound phase. The next confirmed move out of this range could determine the trend heading into late June.