ETH Price Structure Shows Controlled Pullback, Not Breakdown

Ethereum’s recent pullback looks more like healthy consolidation than a real breakdown. The price action since the recent peak has been controlled and measured, not the kind of sharp selling you’d see at a true market top. This matters because it suggests ETH is building up for its next big move rather than rolling over.

The current structure shows overlapping waves and defined support zones below where price is trading now. There’s a clear resistance level above that needs to break for bulls to confirm the reversal. Once ETH pushes decisively above that threshold, the technical setup points to a fresh advance toward higher targets.

What makes this interesting is how different this pullback feels compared to actual bearish breakdowns. The retracement has been orderly, staying within expected ranges and showing textbook corrective behavior. Price might still test the lower support zone before turning around, but as long as it holds and then breaks resistance, the broader trend stays intact.

“The ongoing pullback in ETH appears far more corrective than impulsive, reinforcing the view that the broader trend remains constructive.”

Ethereum often sets the tone for the wider crypto market, so this setup carries weight beyond just ETH itself. A corrective dip followed by strength above resistance would confirm the larger uptrend is still alive. The timing isn’t certain, but the structure suggests ETH is still preparing rather than topping out. As long as the pullback stays corrective, the path toward new highs remains open.

My Take: The wave structure here tells a clear story – this isn’t capitulation, it’s consolidation. Markets don’t fall apart this neatly. If ETH can reclaim that resistance zone, we’re likely looking at continuation, not reversal.

Source: XForceGlobal