Ethereum (ETH) exhibits resilience despite a recent price retracement, retreating from levels above $3,600. The cryptocurrency has nonetheless maintained critical support zones around $3,300 and $3,080, signaling this downturn is unlikely to disrupt the broader upward trajectory.
The price drop triggered significant market activity, leading to $197 million in liquidations for leveraged ETH positions. This event was part of a larger liquidation wave exceeding $500 million across major cryptocurrencies, impacting assets including Bitcoin.
Market analyst DonAlt has confirmed his view that the bullish trend for Ethereum remains fundamentally intact. He characterized the pullback as a ‘healthy’ correction, a typical occurrence within sustained upward market cycles.
Context supports this outlook. Ethereum’s current price point remains approximately 80% above its lows recorded earlier in the second quarter. This substantial gain reinforces the interpretation of the recent dip as a consolidation phase preceding a potential continuation of the bull run.
Amid ongoing market volatility, investors are advised to closely monitor ETH’s price action in the coming weeks for further indications of trend strength and potential support or resistance levels.