Ethereum price is holding at a crucial support level at $4470, a range that previously acted as resistance and now serves as support. While the area is of significant technical importance, Citigroup analysts warn that a breakout could trigger a deeper correction to $4300 before the end of 2025.
Ethereum’s struggle to hold onto the $4470 mark underscores its importance. Previously, the level served as a ceiling for the price, preventing it from going higher until the bulls finally reclaimed it. Now, it serves as a checkpoint and represents an area of high volume and interest in trading.
However, a bearish pattern becomes increasingly likely if the price closes below $4470. A break would open the way to $4300, an area with technical support levels including the point of control range, the low in the value zone, and the golden 0,618 Fibonacci level.
Bank analysts expect that by the end of the year эфириум will fall to $4300, highlighting a wider range that includes a bullish scenario at $6400 and a bearish scenario at $2200.
Citigroup also noted a decline in online activity Ethereum, emphasizing that currently only 30% of traffic goes through the Block, with the majority coming from second-tier decisions. This structural change has caused the ETH price to trade above model estimates, increasing the likelihood of a correction if key support levels are lost.