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Can Ethereum Bounce Back from Brutal Sell-Off? Here’s What the Charts Say https://cryptonews.com/news/can-ethereum-bounce-back-from-brutal-sell-off-heres-what-the-charts-say/

Ethereum Continues to Move Sideways, but Can It Bounce Back from Brutal Sell-Off?

Ethereum (ETH) has been moving sideways in the $1,600 area, with traders monitoring trade war headlines and commentary from Fed policymakers, wondering if the crypto can recover from its brutal sell-off. The brutal sell-off saw Ethereum drop from highs close to $2,000 earlier this month to lows under $1,400 last week. However, chart analysis still paints a bearish picture.

Ethereum continues to trade below its major moving averages, including its 21DMA, which has offered strong resistance in recent months. Some analysts, including popular analyst Ted Pillows, think that a near-term breakout could be coming.

"ETH is getting closer to a breakout. Global markets are gaining some strength, so expect Ethereum to hold the $1,550-$1,600 level. For now, I'm hoping for a breakout above and close above $1,670 for a rally towards $2K," said Ted Pillows.

However, against the backdrop of continued macro uncertainty, betting on a major rebound right now would be risky. Fed Chair Jerome Powell highlighted the risk that Trump's trade war risks simultaneously hurting economic growth and pushing inflation higher, putting the Fed in a tricky situation.

The risks remain tilted towards further losses for risk assets like stocks and altcoins (like ETH) in the weeks and months ahead. Can Ethereum Bounce Back?

Ethereum's near-term outlook may be bearish, but could the crypto be gearing up for a major recovery? Mister Crypto noted on Wednesday that ETH has fallen back below its realized price, which he called "an amazing buying opportunity." Indeed, investors who bought as ETH neared or fell below its realized price in recent years would have made a tidy profit. This time is unlikely to be any different.

Ethereum remains the dominant DeFi chain, still way ahead of its closest rivals like Solana or Tron in terms of total value locked in smart contracts. And with Ethereum clearly a favorite in the pro-crypto Trump administration (Trump's family are HODLers), Ethereum has all the narratives it needs to dominate when the crypto market starts to recover.

Savvy investors would do well to continue accumulating Ethereum at discount prices. ETH is very likely to hit new record highs before the end of Trump's four-year term, which is over 3x above current levels. Higher Beta Alternative to Consider – Solaxy (SOLX)

Investors would also do well to accumulate one of Ethereum's biggest rivals, Solana. The Solana blockchain is a way of matching Ethereum's dominance, but its proven itself as the go-to blockchain for retail trader activities like meme coin trading. That gives it a strong narrative to power a comeback when macro conditions improve. Solana could easily 3x from current levels prior to the end of the Trump administration's four-year term, just like ETH. That said, an exciting new Solana project called Solaxy (SOLX) could do even better.

Solaxy, the first layer-2 Solana scaling blockchain, has been making waves since the launch of its presale earlier this year. With over $30 million in funds raised for ecosystem development, Solaxy looks set to mark one of 2025's biggest token launches. The SOLX spaceship is picking up speed!