#MarketRebound The price of Ethereum (ETH) shows signs of a technical rebound after a marked period of decline. Currently, ETH is trading around $1,783, with a positive change of 0.104% on the day. 
Recent technical analysis
• Support and resistance: The price has bounced off the support at $1,450, but remains below the resistance at $1,730, indicating persistent selling pressure. 
• Momentum indicators: The daily RSI is in the oversold zone, suggesting potential for a technical rebound. 
• Key levels to watch: A break above $1,850$ could pave the way towards $1,920, while a failure to maintain $1,730$ could lead to further declines. 
Fundamental factors
• Low transaction fees: The average fees on the Ethereum network have fallen to around $0.168, which could boost activity on the network. 
• Accumulation by investors: Significant accumulation of ETH has been observed, with a reduction in supply on exchanges, indicating renewed investor confidence. 
• Pectra update: The upcoming network update, Pectra, could bolster optimism around Ethereum and support a rise towards $2,140. 
Outlook
Although signs of a rebound are present, the trend remains fragile. Confirmation above key resistances is necessary to validate a sustainable recovery. Investors should closely monitor technical levels and fundamental developments to assess the future direction of the market.
