Can Bulls Break Ethereum’s $1,680 Barrier?

Ethereum recently found support above the $1,500 zone and initiated a fresh rally, mirroring Bitcoin’s movement. The price climbed past the $1,550 and $1,580 resistance levels, eventually reaching a high of $1,668. However, ETH couldn’t sustain the momentum and is now undergoing a downside correction.

Read Ethereum Price Prediction 2025, 2026 - 2030

Currently trading below $1,600 and the 100-hourly Simple Moving Average, Ethereum is showing signs of short-term weakness. The recent dip pushed the price below the 23.6% Fibonacci retracement level from the $1,482 swing low to the $1,668 high. Moreover, a bearish trendline is forming near the $1,640 resistance, adding to the pressure.

If Ethereum manages to break above $1,640, it could face further resistance at $1,665 and $1,680. A successful move beyond $1,680 might open the doors to a rally toward $1,720 or even $1,750 in the near term. A decisive breakout past $1,720 could push ETH toward $1,800 and beyond.

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Long-term sentiment, however, remains cautiously bullish. According to crypto analyst Javon Marks, Ethereum is still trading outside its previous descending trendline. Marks believes that a sustained move above this level keeps the $4,800 price target in play. This outlook is in line with Standard Chartered’s forecast of $4,000 ETH by the end of 2025.

Yet, recent weakness can be attributed to macroeconomic tensions, including rising geopolitical risks and renewed US tariff concerns. Additionally, on-chain data reveals exchange-held ETH surged to 16.2 million—its highest in 12 months—suggesting whale liquidations and heightened selling pressure.

While long-term fundamentals remain intact, Ethereum bulls must overcome near-term resistance zones to regain momentum. Until then, volatility and consolidation could dominate the charts.