Ethereum traders are buzzing with anticipation following a recent prediction from prominent crypto analyst Michaël van de Poppe, who suggests that ETH could dip slightly lower to €2,900 before staging a strong reversal upwards. This insight comes at a time when Ethereum has enjoyed a robust upward trajectory, highlighting potential trading opportunities for those eyeing entry points in the volatile crypto market. As we delve into this analysis, we'll explore the technical indicators supporting this view, key support and resistance levels, and how this fits into broader market sentiment for ETH and related cryptocurrencies.

Ethereum's Recent Upward Momentum and Potential Pullback

Over the past weeks, Ethereum has demonstrated impressive gains, climbing steadily amid positive developments in the blockchain ecosystem. According to Michaël van de Poppe's tweet on July 23, 2025, the current upward move has been 'great,' but a minor correction to €2,900—equivalent to approximately $3,150 based on recent exchange rates—could provide a healthy breather before further advances. This level aligns with historical support zones where ETH has previously bounced back, such as during the market recovery phases in early 2024. Traders should monitor on-chain metrics like trading volume, which has surged by over 20% in the last 24 hours on major exchanges, indicating sustained interest. For instance, if ETH approaches this €2,900 threshold, watch for increased buying pressure from whales, as evidenced by recent wallet activity data showing accumulations at similar price points.

From a technical standpoint, the relative strength index (RSI) for ETH is currently hovering around 65 on the daily chart, suggesting it's nearing overbought territory but not yet exhausted. A dip to €2,900 could reset this indicator to around 50, creating an ideal setup for a bullish reversal. Pair this with the moving average convergence divergence (MACD) showing a potential crossover, and the stage is set for upward momentum. Ethereum's correlation with Bitcoin remains strong at about 0.85, meaning any BTC stability could bolster ETH's recovery. Traders might consider long positions if ETH holds above €2,900, targeting resistance at €3,500, which has acted as a ceiling in recent trading sessions.

Trading Strategies and Risk Management for ETH

For those looking to capitalize on this potential dip and reversal, a strategic approach is essential. Consider entering buy orders near €2,900 with stop-losses set just below €2,800 to mitigate downside risks, especially given the market's volatility influenced by global economic factors like interest rate decisions. On the upside, profit targets could be placed at €3,200 and €3,500, levels that have shown high trading volume in the past month. Institutional flows are also a key factor; recent reports indicate increased ETH inflows into exchange-traded funds (ETFs), with over $500 million net inflows in the last quarter, supporting a bullish long-term outlook. This aligns with van de Poppe's view that 'there's still much more to come,' potentially driven by upcoming Ethereum upgrades like improved scalability features.

Broader market implications extend to altcoins and DeFi tokens, where ETH's performance often sets the tone. If the predicted reversal materializes, it could trigger a rally in ETH-based pairs like ETH/USDT and ETH/BTC, with trading volumes potentially spiking by 30-50% as sentiment shifts positive. However, traders should remain cautious of external risks, such as regulatory news from major economies, which could amplify any pullback. In summary, this analysis underscores Ethereum's resilience, offering actionable insights for both short-term scalpers and long-term holders. By focusing on these key levels and indicators, investors can navigate the crypto market with greater confidence, turning potential dips into profitable opportunities.

To optimize your trading, always cross-reference multiple timeframes—hourly charts for entry points and weekly for overall trends. With Ethereum's market cap exceeding $400 billion as of recent data, its movements ripple across the crypto landscape, making this a pivotal moment for strategic positioning.