ETH/USD Forecast: Ethereum Tests 1680 as Bearish Pressure Remains Strong

Against this background, analysts’ forecasts for further price dynamics remain negative. British multinational financial conglomerate Standard Chartered plc revised its preliminary estimate for ETH/USD this year by –47.0%, lowering it to 4000.00 from the previous 7500.00. Nevertheless, the long-term target for 2030 at 40000.00 remains unchanged. Experts attributed the revision to cyclical factors and believe that after reaching a “bottom” around 1400.00, the instrument may well move into an upward phase.

At the same time, Tom Lee, head of Bitmine Immersion Technologies Inc., the largest corporate holder of ETH, speaking at the Proof of Talk conference, suggested that the token could even reach 25000.00, almost 150 times above current levels, allowing it to approach gold’s market capitalization, which stood at 30.0 trillion dollars at the beginning of this month. He believes that this would primarily be supported by the growth of AI payments carried out through the Ethereum network, as well as the gradual transfer of control over network validation from decentralized protocols to corporations — the staking process, which means securing the blockchain and confirming transactions through the installation of specialized software.

American investors remain focused on labor market statistics: nonfarm payrolls in May amounted to 172.0K, more than twice the consensus forecast of analysts, who expected 85.0K, and also above the revised April figure, which was raised to 179.0K from the previously reported 115.0K. The unemployment rate remained near 4.3%, while average hourly earnings increased by 0.3% month-on-month and 3.4% year-on-year, fully matching preliminary estimates. Economists note that the improvement in the sector is linked more to a low level of layoffs than to active hiring expansion, and that its resilience, combined with uncertainty caused by the Middle East conflict, gives the U.S. Federal Reserve arguments to maintain hawkish monetary policy. After the data was published, the yield on 10-year U.S. Treasury bonds reached 4.77%, while the probability of an interest rate hike rose to 70.0%, completely excluding any hints of a softer tone from financial authorities.

Support and resistance levels

A local correction is forming on the daily chart, while the price remains below the support line of the ascending channel with dynamic boundaries at 2730.00–2110.00.

Technical indicators confirm a confident downward scenario, maintaining a stable sell signal: the EMA fluctuation range on the Alligator indicator is directed downward, and the fast moving averages are still below the signal line, while the AO oscillator histogram has long since moved into the negative zone, where it is forming new downward bars and gradually moving away from the zero level.

Resistance levels: 1845.00, 2380.00.

Support levels: 1560.00, 1130.00.

ETH/USD trading scenarios and forecast

Short positions may be opened after the price consolidates below 1560.00, with a target at 1130.00. Stop-loss — 1700.00. Expected timeframe: 7 days or more. Long positions may be opened after the price consolidates above 1845.00, with a target at 2380.00. Stop-loss — 1700.00.