$ETH

The bulls are attempting to initiate a recovery but must overcome a major resistance at the $2,111 level. If the price drops sharply after reaching this threshold, it will indicate that the bears have turned it into a barrier, increasing the risk of a decline below $1,754. In this scenario, the ETH/USDT pair could fall to $1,500.

Conversely, if the price breaks above the 20-day EMA ($2,235), it would suggest that the market has invalidated the drop below $2,111. The pair could then continue its rise to $2,800, a level where the bears are expected to apply strong pressure.