As of July 7, 2025, Ethereum (ETH) is trading around $2,579.86, with a slight 0.43% increase in the past 24 hours. The market is currently in a bullish consolidation phase, with traders seeking strong signals for the next move. This technical analysis explores key support and resistance zones, common indicators, and the overall market trend. Support and Resistance Zones The key support zone for Ethereum lies between $2,450 and $2,500. This range has recently acted as a strong demand zone, with the price bouncing multiple times after touching this level. On the other hand, the main resistance is observed between $2,750 and $2,800, aligning with recent highs from late June 2025. A breakout above this resistance could push Ethereum toward higher targets like $3,200 or even $4,000. Indicator Analysis The Relative Strength Index (RSI) on the daily timeframe is between 55 and 60, indicating mild bullish momentum. On the 4-hour chart, RSI is at 58, suggesting buyer strength but not yet approaching the overbought region (above 70). The Williams %R indicator, at -45, is in neutral territory, supporting the potential for continued upward movement. Moving averages (EMA/SMA) confirm a long-term bullish trend. The 50-day moving average remains above the 200-day moving average, signaling sustained upward momentum. The price recently bounced off the 50-day moving average as dynamic support, a positive sign for buyers. Price Pattern Analysis Ethereum is currently moving within a short-term ascending channel, recently bouncing from the channel’s lower bound around $2,450. Some analysts have noted a potential bullish flag pattern on the daily chart, which could signal a continuation of the upward trend. However, if the $2,450 support breaks, a correction to $2,350 or even $2,150 is possible. Potential Scenarios Bullish Scenario: If Ethereum consolidates above $2,800 with increased trading volume (over 20% above the 20-day average), it could target $3,200 or $4,000. Bearish Scenario: A break below $2,450 could see sellers take control, pushing the price toward $2,350 or $2,150. Conclusion Based on current data, Ethereum is in a mild bullish trend, with key support levels at $2,450 to $2,500 preventing further declines. Fundamental factors, such as Ethereum network upgrades and ETF inflows, could further bolster this trend. Traders should closely monitor key support and resistance zones and await confirmation from indicators.