Ethereum Price Rebound Faces Uncertainty as Analysts Warn of Potential Retraction

Ethereum has rebounded significantly after a three-day drop, but experts are warning that the recovery may be short-lived. The cryptocurrency's price has bounced back above $1,800, but it still needs to gain more momentum from the bulls to confirm its recovery.

According to Ted Pillows, a crypto analyst, Ethereum retested the $1,750-$1,800 support zone as expected. However, until ETH reclaims the $2,000 level, it is likely that the entire pump could be retraced.

The URPD indicator suggests that there are key supports below $1,800, which include $1,584, $1,238, and $1,089. If Ethereum's price were to drop below these levels, it could indicate a more significant decline in the cryptocurrency's value.