Ethereum isn’t dead’ – Analysts weigh in as ETH rebounds above $1,600

Ethereum price recovered back above $1600 on Monday after analysts said the asset was showing fresh resilience. 

ETH price rose 1.30% to $1,661 over 24 hours, outperforming a flat Bitcoin market. The shift was made despite the weakness in traditional risk assets. The traders attributed the recovery to a short squeeze that compelled liquidations and contributed to quicker price movement.

Ethereum Price Rebounds As Market Pressure Eases

The rebound came after a turbulent week in the biggest cryptocurrencies. Bitcoin, Ethereum, and XRP were down over 14%, 15% and 13%, respectively. However, sentiment improved after Bitcoin reclaimed the $63,000 level.

Bitcoin rose 0.76% to $63,224 over the 24 hours, after dropping to $59,108 earlier. The BTC also rose close to $64,000 on Sunday, surging by 5% compared to previous lows. The revival was apparent as geopolitical tensions that surrounded the U.S.-Iran conflict started to reduce.

The remarks of the U.S. President Donald Trump regarding a potential Iran deal were noticed by market watchers. He claimed that the Israeli Prime Minister Benjamin Netanyahu would have had no option but to accept the deal. 

Analyst Predicts Ethereum Rebound As Buy Signal Flashes

Crypto analyst Ali Charts commented that Ethereum was possibly gearing up to rebound following a significant technical indicator. He observed that the TD Sequential gave a buy signal on the three-day chart of ETH. This signal follows a sharp drop that brought Ethereum to the position of almost 1,612.

Rebound incoming!? 👀

The TD Sequential just flashed a buy signal on Ethereum $ETH. https://t.co/LNkygeXO5n pic.twitter.com/m0PBumtcbc

— Ali Charts (@alicharts) June 7, 2026

Nonetheless, analyst Ted Pillows cautioned that sellers remain in control. He argued that ETH has not been able to hit its February 2026 lows recently and this nullifies the recovery point. His chart showed that Ethereum needs to re-enter the range of 1,750 to 1,800.

That level is now significant to traders due to a potential relief rally. An overt action beyond it would enhance the mood in the short term. Nevertheless, the inability to regain that zone can continue to put pressure on ETH.

The mixed signals show Ethereum remains at a critical stage. It requires greater momentum by buyers to establish any meaningful recovery at current levels.

$ETH got rejected from Feb 2026 lows.

This is a sign that sellers are still in control.

For any decent rally, Ethereum needs to reclaim the $1,750-$1,800 zone. pic.twitter.com/ST36tZnTEN

— Ted (@TedPillows) June 8, 2026

Ether derivatives data recorded an increase in the trading as there was an upward growth of 20.68 percent in the volume to reach $46.89 billion. Nevertheless, open interest declined 0.65 percent to 24.22 billion, indicating that traders sold off some positions. 

The mixed data is indicative of active short-term speculation, whereas leverage demand was softer. Participants in the market can now observe whether an increase in volume can sustain an increase in the price of ETH.

Can Ethereum Price Break Above $2k This Week?

The ETH price hovered at $1,668 on the 4-hour chart, showing a short-term rebound from recent lows. ETH rebounded as buyers defended the support zone of $1,600 in the recent downfall.

The chart shows ETH still trading below major resistance levels. The initial target in the upside is close to the mark of $1,700. An even greater upward shift beyond that range may drive ETH to $1,800.

In case of a bullish momentum, the future ETH outlook could revisit the resistance level of $2,000.

The RSI was close to 48, indicating an upward trend of momentum but not bears. Meanwhile, the MACD indicated a good histogram, which indicated pressure towards short-term recovery.

However, sellers could regain control if ETH loses $1,600 support. A failure below that would put the price at risk against $1,500.