Current Price:
Around $1,772–$1,806 (real-time range as of May 6, 2025).
Short-Term Outlook:
Range-Bound Trading: ETH is consolidating within a symmetrical triangle, with resistance near $1,845–$1,850 and support at $1,785–$1,800.
Key Scenarios:
Bullish Breakout: If ETH closes above $1,850, it may rally toward $1,910–$1,950, with some forecasts even suggesting a push to $2,000–$2,100 if momentum continues.
Bearish Rejection: A failure to hold above $1,800 could see a drop toward $1,775–$1,740, with further downside risk to $1,700 if support breaks.
Neutral/Consolidation: Most likely to trade between $1,775–$1,845 in the near term, with indicators signaling indecision.
Market Sentiment:
Neutral to cautiously bullish, with a breakout or breakdown expected soon as ETH approaches the apex of its technical pattern.