Analyst: The recent decline of ETH is a technical correction, and it is expected to rise above 3000 USD in the future

ChainCatcher news, according to Cointelegraph, market analysts believe that Ethereum's recent decline is a technical correction aimed at retesting key support levels before continuing to rise to $3,000 and higher. Crypto analyst Titan of Crypto stated that the current value of the weekly Stochastic RSI is 79, indicating that ETH "still has momentum to continue upward."

Analyst Chimp of the North mentioned that Ethereum's downside potential may be limited to $2,400. He also stated that Ethereum may continue to pull back, retesting the $2,400 support level before rising again, with a target range of $3,000 to $3,300.