Original Coverage & Source Attribution: www.fxempire.com
We emphasized in a previous Ethereum price prediction that the token seems to be replaying the price action of April – May 2025, back when the Pectra upgrade was about to be released.
This time, the Glamsterdam upgrade could be the driver that ETH needs to start recovering, but market makers will probably try to push the token to lower areas to fill as much of this imbalance as they can.
We see the ideal “buy zone” for ETH if that historical pattern repeats at around $2,075 and $1,935. The odds of a strong rebound off this area are quite high, considering the significant volume of buy orders that are probably sitting there.
Market conditions have not deteriorated significantly, aside from some minor headwinds that were already on the table when the August rally started.
If that rebound materializes, the first stop for ETH would probably be $2,400, to retest that key area from below. If the token recaptures that level, it is highly likely that the uptrend will resume.
Yesterday, we saw a strong reaction in the price action after hitting the first portion of this large imbalance. A long lower wick indicates that the buying pressure rose as ETH hit this mark.
If the price starts rising rapidly during the weekend, we expect this to be a strong signal that the market is ready to recover.
