Assessment of Ethereum's Value: Will ETH Overcome the Significant Resistance Threshold?

Ethereum has recently rebounded from the critical $1.5K support level, but is facing challenges in surpassing the bearish order block near the $1.8K mark. This resistance could lead to another pullback if not cleared.

The Ethereum price has shown a bullish reversal pattern at the $1.5K support level and rapidly rallied towards the $1.8K order block. A rejection from the order block could stimulate support from the bullish fair value gap located below the price, potentially pushing the asset higher. Ethereum's Open Interest chart from CryptoQuant shows a strong correlation between open interest and price trends, with rising open interest signaling potential anticipation for a breakout or continued relief bounce.

However, this also increases the risk of a volatile flush if the price stalls or reverses sharply, necessitating careful risk management in the weeks to come.