Ethereum is still holding above $1,800 despite several unsuccessful attempts to break higher. The current price action signals a potential shift, with volatility compressing and momentum forming for a significant move in either direction. After months of selling pressure and weak performance compared to Bitcoin, analysts now believe that ETH is nearing a critical inflection point.
Top analyst Ted Pillows has shared an important technical observation, highlighting the formation of a long-legged Doji candle on Ethereum's monthly timeframe. This type of candle typically reflects the market's intense indecision, where both buyers and sellers test extreme levels, but neither side gains clear control at the close. It is often seen near significant turning points, especially after prolonged downtrends or consolidations.
If Ethereum can reclaim the $2,000 level in the coming sessions, this would confirm bullish intentions and open the door for a stronger rally. On the other hand, failing to hold above $1,750 could trigger new downward pressure, potentially testing deeper support areas.
Currently, ETH remains trapped in a narrow range, but the technical setup and market structure suggest that a decisive breakout could soon determine Ethereum's path in the coming weeks.
The main resistance level of Ethereum limits the upside
Ethereum has traded below $2,000 since late March, and this prolonged consolidation signals a market still searching for direction. Although it has recovered from local lows, ETH is still down over 55% from its December peak, reflecting overall weakness in the altcoin market. Bullish speculators have tried to hold the $1,800 level, but continuous breakouts above major supply areas like $2,000–$2,100 are needed to confirm any meaningful reversal.
In the short term, Ethereum has begun to build a more bullish structure, with higher lows forming on the daily charts. This indicates that buyers are gradually regaining control, although selling pressure remains strong. Volumes continue to decrease during bullish moves, and without a decisive breakout, the price may continue to move sideways or revert to lower support areas near $1,700 or $1,550.
Market sentiment is cautiously optimistic, with analysts closely monitoring technical signals for confirmation. Pillows points out that ETH recently formed a long-legged Doji candle on the monthly chart—a rare shape that often signals market indecision or the beginning of a trend reversal.
If this candle marks a turning point, Ethereum may be preparing for a breakout. However, until the buyers reclaim the main resistance level, the risk of moving into lower demand areas remains very real.
ETH price consolidates as Bulls Eye Breakout
Ethereum is currently trading at $1,830, holding steady after several days of tight consolidation between $1,750 and $1,850. This narrow range has defined recent price action as buyers and sellers remain locked in a tug-of-war near the main resistance threshold. For buyers to maintain control and confirm a reversal structure, a decisive breakout above $1,850 is crucial. Regaining the $2,000 area could spark new buying momentum and shift short-term sentiment in a bullish direction.
However, the longer ETH remains capped below resistance, the greater the risk of a breakdown. If buyers do not soon surpass the $1,850 level, selling pressure could increase. Losing support at $1,750 could open the door for a move back to the $1,700 area. Further weakness from there could pull ETH down to test the $1,500 level, where prior demand has stepped in.
With macroeconomic uncertainty still weighing on the market and Ethereum underperforming compared to Bitcoin, traders are closely watching for a decisive move. Until then, ETH remains trapped in a narrow range, where momentum is building and the potential for a breakout or breakdown could be just around the corner.
