Ethereum (ETH) has shown some stability following a sharp sell-off in mid-May, but its overall price structure remains bearish. The cryptocurrency is currently trading around $1,670, up just over 1% in 24 hours.
However, analysts are warning that this modest rise may be fragile rather than sustainable. Crypto analyst Ted pointed out that ETH is still trading inside a bear flag formation, which typically signals continued downside unless the price breaks free.
To shift the outlook and potentially move towards $1,850, $1,900, ETH needs to close above the $1,700 resistance level. If this resistance holds, the risk of another leg lower returns, with the $1,500 support level coming back into focus.