Ethereum's price has been stuck in a tight range after weeks of selling, mainly due to global tensions and the ongoing U.S.-China trade issues. Currently, ETH is trading around $1,590, with support at $1,550 and resistance at $1,700.

Experts say this “compressed” price action often leads to a breakout, but it's unclear in which direction. ETH could trigger a recovery if it moves above the 4-hour 200 MA and EMA. The real test is the $2,000 mark—breaking that could boost confidence and attract more buyers.