ETH price eyes $2.5K as a data point for low value scenarios
If the current rally above $2,150 and the higher price push market and future market volume continue, Ether (ETH) may be on its way to retesting $2,500.
Ether is also supported by a key macro indicator that puts the altcoin in an unusually low price zone not seen since 2022. The data suggests that the selling pressure is fading and the stockpiling process for Ether is in the early stages.
ETH price structure consolidates above $2,150.
Ether's daily chart shows bulls leading the charge after a 6.33% rally pushed the price above $2,150 resistance. ETH will now attempt to retest the March highs of $2,385, with the more likely $2,475–$2,635 fair value gap acting as a magnet for bulls.
Repeated tests of $2,150 over the past two months suggest declining resistance as buyers continue to enter higher levels.
Charts show that the ETH market structure is evolving and current volumes are largely market driven. On the four-hour chart, ETH is holding higher lows as it tries to break into the $2,250–$2,300 range.
Cumulative Space Delta (CVD) peaked at 184,500 ETH in April, indicating continued demand for space.
CVD futures also gradually increased to 4.36 million ETH, suggesting that early traders are starting to support the move instead of leading it.
Funding volume remains positive at 0.0052, indicating a long bias, and open interest of around 4.75 million ETH is still range-bound, indicating limited potential.
The data shows that ETH is in a controlled accumulation phase driven by position demand to some extent, although a strong breakout may be what is needed for future position expansion.
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The macro index shows ETH in a “rare” low price zone
According to the Capriole Macro Index Oscillator, Ether may be nearing a macro bottom with a reading of -2.42. This puts Ether in an extremely low price zone that has historically been associated with bullishness and trend reversals.
The indicator tracks investment behavior, cyclical positioning and onchain data, with deep negative values often indicating seller weakness.
The previous indications emphasize the reliability of the measurement. From June to July 2022, ETH fell from $1,000–$1,200 as the index dropped to -2.2. From October to November 2023, it is adjusted to the value of ETH after a drop to -1 to $1,500.
In April 2025, another negative reading marked a low near $1,500, placing a support platform above $4,000.
The current setup reflects previous capital levels. ETH has fallen from highs near $4,800 to $2,100, while the oscillator sits near cyclical lows.
Now that ETH is in the undervalued zone, the downside risk seems to be limited in terms of upside potential. However, the confirmation comes with a return to the $2,400–$2,500 level and a return to zero for the macro indicator.
According to analyst Crypto Sunmoon, the ETH receivables buy/sell ratio has been trending upward for four to five months.
Combined with the current decline, the structure resembles the configuration prior to the April-May 2025 rally, suggesting that a similar level of recovery is likely.
Related: Three Reasons Ether Traders Expect ETH to Hold Above $1.8K
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