Ethereum's Slump: Examining the Current Situation and Predicting Future Directions for ETH
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Cryptocurrency analyst Marcus Corvinus and BitMEX co-founder Arthur Hayes have recently shared their optimistic outlook on Ethereum's (ETH) price movement, aligning with broader technical analysis indicating imminent volatility and bullish targets in the near term.
Currently, Ethereum is trading around $3,620–$3,670 as of early August 2025, entering a consolidation phase near a symmetrical triangle pattern, which suggests a potential decisive price move soon. Key resistance levels to watch include $3,700, $3,720, $3,800, and $3,900, with the critical breakout point near $3,720. A confirmed break above this level could trigger a 10% rally, pushing prices towards $4,100–$4,200 and potentially as high as $4,400–$4,500 according to various technical studies.
Key technical indicators present a mix of neutral to bullish signals. The Relative Strength Index (RSI) is neutral to slightly bullish, around 53–56, allowing room for upward momentum. The Moving Average Convergence Divergence (MACD) is flat or showing cautious signals, awaiting bullish crossover confirmation. Bollinger Bands are tightening, signifying incoming volatility, while EMA clusters (20/50/100/200) are in a bullish alignment on shorter timeframes (4-hour chart). On-chain data and moving average crossovers (100-day crossing above 200-day) also support a bullish outlook.
Marcus Corvinus emphasizes the importance of the $3,600–$3,620 support zone holding to maintain bullish structure and avoid a deeper correction towards $3,400–$3,520, which, despite being a retracement, remains a buying opportunity unless invalidated. Arthur Hayes, known for his macro insights, is optimistic about ETH reaching or surpassing $4,000 if current demand zones hold and breakouts materialize as suggested by momentum and technical setups.
Ethereum's price decline of almost 5% in the last 24 hours, according to data from CoinMarketCap, has not deterred Corvinus's optimism. He believes this is not just price action but strength under pressure for Ethereum. In an X post, Corvinus stated that a hidden bullish power is brewing for the Ethereum price, and Ethereum isn't reversing but consolidating at the top, a pattern which often ends in a breakout to the upside.
Moreover, bearish volume has been fading since last month for Ethereum, and while Bitcoin has made lower lows, Ethereum, according to Corvinus, has held strong with higher lows. This hidden bullish divergence RSI, with a lower low while the price had a higher low, further strengthens the bullish case for Ethereum.
In summary, both analysts suggest Ethereum is on the cusp of a decisive move, with key near-term targets between $3,720 and $4,500, contingent upon a breakout above $3,700–$3,720 resistance and retention of $3,600 support levels. Failure to hold support could lead to temporary corrections but likely will be met with renewed buying interest given the prevailing bullish technical context.
Arthur Hayes also expects the Bitcoin price to retest the psychological $100,000 level. However, the focus remains on Ethereum's impending breakout, as it plays a smarter game than Bitcoin at present, according to Marcus Corvinus.
- Arthur Hayes anticipates Ethereum's price could surge past $4,000, given the current demand zones hold and breakouts materialize as proposed by momentum and technical setups.
- A breakout above the $3,700–$3,720 resistance level could be the catalyst for a 10% rally, potentially pushing Ethereum's price towards $4,100–$4,200.
- Marcus Corvinus believes that even with a 5% price decline in the last 24 hours, Ethereum is not reversing but consolidating at the top, which usually results in a breakout to the upside.
- The Relative Strength Index (RSI) is neutral to slightly bullish, allowing room for upward momentum as Ethereum trades around $3,620–$3,670.
- The importance of the $3,600–$3,620 support zone holding is emphasized by Marcus Corvinus to maintain the bullish structure and avoid a deeper correction towards $3,400–$3,520, which, according to him, presents a buying opportunity.
