Ethereum (ETH) is currently trading at $1,896, showing signs of weakness after a sharp decline from its recent highs above $3,600. The price is hovering near key support, and traders are closely watching whether ETH can hold this level or if further downside is ahead.
Key Observations:
✅ Major Downtrend – ETH has been in a bearish trend since topping out near $4,800 in late 2021. Despite multiple recovery attempts, the trend remains downward.
✅ Strong Support Zone – The current level between $1,800 - $1,900 has historically been a key demand area. A bounce here could signal relief.
✅ Bearish Momentum – The latest drop suggests that selling pressure remains strong. If ETH loses $1,800, we could see a sharper correction toward $1,600 or lower.
✅ Potential Reversal? – If bulls step in, a recovery towards $2,200 - $2,400 is possible, but a break above the $2,600 resistance would be needed to signal a trend shift.
📊 What’s Next?
🔹 If ETH holds $1,800, we may see a short-term bounce.
🔹 A breakdown below $1,800 could accelerate the sell-off.
🔹 Bullish confirmation would come with a reclaim of $2,200 - $2,400.
👀 Traders should watch volume and key resistance levels before making moves. Is this a dip-buying opportunity or will ETH see lower levels first?
💬 What’s your take on ETH? Will bulls defend this level, or are we heading lower?