Ethereum has returned to price levels last seen in March 2021, effectively erasing five years of net appreciation. The second-largest cryptocurrency by market capitalization is trading near $1,730, roughly flat from where it stood in early 2021, despite multiple rallies and selloffs in the interim.
Data from CoinGecko shows Ether changed hands at approximately $1,730 at press time, up 0.5% over the past 24 hours after oscillating between $1,708 and $1,742. Market analyst Ali Martinez highlighted that a hypothetical $10,000 investment in Ethereum at the start of March 2021 would still be worth roughly the same amount today, underscoring the asset's prolonged sideways movement.
Analysts Split on Next Move
Martinez identified $1,060 as a critical support zone if Ethereum loses higher levels. A drop to that area would represent a much deeper retracement and could become a key area for long-term investors to reassess demand. On the upside, he noted that Ethereum must first defend current support before attempting a recovery toward $2,850 and eventually $4,630—the latter near its previous all-time high.
Market commentator KNIGHT presented a more cautious scenario, suggesting Ethereum faces repeated rejection near the $1,800 to $1,850 region before gradually falling through support zones around $1,500, $1,300, and potentially $1,060. These levels align with Martinez's downside targets.
Offering a contrasting view, crypto analyst Michaël van de Poppe argued that current conditions may represent one of the better long-term accumulation periods for Ethereum. He suggested investors could eventually view current prices as attractive entry points over a five-to-ten-year horizon.
Technical Indicators Show Stabilization but Weakness
Ethereum's daily chart shows the asset remains below its 20-day, 50-day, 100-day, and 200-day moving averages. The 20-day moving average sits near $1,763, while the 50-day, 100-day, and 200-day averages are around $1,910, $2,072, and $2,346, respectively. This positioning indicates the primary trend remains under pressure despite a recent rebound.
The daily Relative Strength Index (RSI) has recovered from oversold territory to approximately 43, suggesting selling pressure has eased. However, the indicator remains below the neutral 50 level, indicating buyers have yet to regain full control.
On the four-hour chart, Ethereum is trading near the middle Bollinger Band around $1,718, with the upper and lower bands at $1,750 and $1,687. The MACD indicator has flattened near the zero line, showing neither bulls nor bears hold a decisive advantage. A push above $1,760 would place Ethereum back above its 20-day moving average and could expose the $1,800 to $1,850 resistance zone. Failure to hold the current range would put $1,680 under renewed pressure, with potential declines toward $1,500, $1,300, and $1,060.
Exchange Outflows Signal Accumulation
Separately, CryptoQuant analyst Rei Researcher reported a notable increase in Ethereum outflows from Binance during June 2026, with significant amounts leaving the exchange while the asset traded near $1,710. Exchange outflows are often interpreted as a sign that investors are moving assets to private wallets or staking platforms rather than preparing for immediate sale, which can reduce available supply and ease selling pressure. However, Rei Researcher cautioned that outflows alone do not guarantee higher prices, as market demand, macroeconomic conditions, and Bitcoin's performance continue to influence Ethereum's direction.
For context on broader market dynamics, investors may also consider how Micron's recent surge on AI-driven demand reflects the tech sector's shifting landscape, while gold's recent plunge amid geopolitical tensions highlights the interplay between safe-haven assets and risk appetite.
This article is for informational purposes only and does not constitute financial advice.
