The primary support level for Ethereum at present is at the 1870 position, while its strongest resistance level is at 2050.

Due to market fluctuations and whale activity greatly impacting Ethereum's price, it will be crucial to monitor these key levels as the asset attempts to enter the next phase. The area around 1870 has proven to be a strong support level.

On-chain data confirms that this is a price level where demand may come into play and prevent Ethereum from correcting further. If the price drops to this level, it represents a great buying opportunity for anyone looking to enter the Ethereum market at a relatively low price.

However, if the price breaks below this level, people will have to interpret that on-chain demand has failed, and further bearish momentum is to be expected.

Conversely, the resistance level at 2050 is a significant barrier for Ethereum to break through. This price level has repeatedly restricted price increases as an upper limit. For Ethereum to break through this resistance level, it may need to continue an astonishing bullish price trend.

If Ethereum can overcome the strong resistance level at 2050 and maintain above this price level, it could just trigger a new catalyst for buying waves, pushing the asset price higher and re-establishing an upward trajectory #美国加征关税 #BNBChainMeme热潮 #ETH