📢 Ethereum Market Update – Key Levels to Watch! 🚀
Ethereum (ETH) is currently sitting at $1,823, struggling to reclaim crucial resistance levels. Let’s break down the market structure:
🔹 Key Support & Resistance Levels:
✅ $1,850 – Critical Resistance: ETH needs to reclaim this level to start a push towards $2,000.
✅ $2,000 – Bullish Confirmation: Closing above this would signal renewed bullish momentum.
✅ $1,500 – Bearish Target: Failure to conquer $1,850 could lead ETH to retest $1,500.
✅ $1,000 – Worst-Case Scenario: If $1,500 breaks, ETH could see a deeper decline.
🔺 Bullish Scenario:
ETH must close two 4-hour candles above $1,850 to confirm strength.
If successful, a move towards $2,000 becomes likely.
🔻 Bearish Scenario:
ETH has failed to close multiple 4-hour candles above $1,850, signaling weakness.
If this continues, a move towards $1,500 is the next logical step.
📌 Final Thoughts:
Ethereum is at a crucial juncture. The technical pattern played out as expected, with ETH breaking down from the rising channel. Now, the market must choose a direction—either reclaim $1,850 for a push upwards or risk further downside to $1,500.
Keep an eye on price action! If ETH struggles further, bearish momentum may take over.
