š $ETH Price Analysis: Bulls Eyeing Upside Break
š Current Market Overview
Ethereum (ETH) has been consolidating after a recent drop from $1,850, finding support near $1,800. The price is now stabilizing above $1,780 and the 100-hour Simple Moving Average (SMA), signaling potential bullish momentum if key resistance levels are breached.
š§ Key Price Levels
Support Zones:
Immediate support at $1,780 (61.8% Fib retracement of the recent upswing)
Major support at $1,750 ā a break below could trigger a deeper correction toward $1,620ā$1,600
Resistance Levels:
$1,810ā$1,820 (short-term contracting triangle resistance)
$1,850 (critical breakout level ā clearing this could propel ETH toward $1,920ā$2,000)
š Technical Indicators
MACD: Gaining momentum in the bullish zone
RSI: Above 50, indicating bullish sentiment
š Potential Scenarios
Bullish Breakout:
A decisive close above $1,850 could fuel a rally toward $1,920ā$2,000
Bearish Rejection:
Failure to break $1,850 may lead to a retest of $1,750 support
A drop below $1,750 could extend losses to $1,600ā$1,550
ā Conclusion
Ethereum remains in a bullish consolidation phase, with traders watching the $1,810ā$1,850 resistance zone for a breakout. A successful push above $1,850 could confirm further upside, while a rejection may lead to a short-term correction.