Ethereum’s price peaked at $1,850 but has since retreated to $1,810. Analysts highlight the crucial $1,750 support level while the $1,800 resistance remains strong. Mixed technical signals indicate potential volatility ahead, with further movement contingent on maintaining these key price levels. Traders are advised to monitor volume and sentiment closely.
Ethereum’s price recently displayed volatility, peaking at around $1,850 before retreating slightly to approximately $1,810. Currently, it shows a marginal gain of 0.09% over the past 24 hours, and holds a market cap nearing $218.6 billion. Analysts underscore the importance of maintaining the $1,750 support level to avert further losses. Resistance at $1,800 remains formidable, complicating the price behaviour which remains unstable near its 100-hour Simple Moving Average.
After hitting $1,850, Ethereum faced significant resistance around the $1,800 mark, leading to a notable rejection. The rally’s momentum was curtailed by a breach below a positive trend line on the hourly chart. While buyers have managed to defend the $1,750 support despite some market hesitance, further attempts to push towards $1,850 or $1,920 are plausible, but this is contingent on overcoming that $1,800 resistance. Failing to stay above $1,750 might incite deeper falls into lower support levels.
Mixed signals currently cloud Ethereum’s technical performance, as hurdles remain for the price rally. The hourly MACD hints that sellers might be losing their grip, although the RSI’s position below the 50 mark suggests cautious trading conditions. Trading below the 100-hourly SMA reinforces the $1,800 resistance’s strength, while the $1,750 support is particularly crucial, being close to the 76.4% Fibonacci retracement from $1,723 to $1,848.
A significant closure above $1,800 could re-energise the ETH price rally, potentially propelling it towards the $1,850 mark and higher. However, should the $1,750 support give way, there could be increased selling pressure, dragging prices down to $1,700, and lower targets such as $1,650 or even $1,620 could come into play.
Looking forward, sustaining levels above the 100-hourly SMA is vital for a short-term ETH price recovery. Traders are keeping a close eye on both the critical $1,750 support and the $1,800 resistance levels. If the latter is broken, a retest around $1,850 could be anticipated; though, a drop below $1,700 could intensify selling. Long-term indicators remain bullish for ETH as long as key support is intact, despite recent fluctuations.
In essence, Ethereum’s ability to hold above the $1,750 support zone is a key determinant for its trajectory moving forward. Only a decisive break past the $1,800 resistance—with backing from the Simple Moving Average—will secure a clearer path for upward momentum. If bullish momentum truly returns, traders might well foresee targets of $1,850 or potentially $1,920. Conversely, loss of support could mean declines reaching $1,650 or lower. As the market continues to shift, traders should remain vigilant regarding volume trends and market sentiment shifts.
