$ETH

The current price of **Ethereum (ETH) at $1,770** is at a critical juncture, and its next move depends on key technical and fundamental factors. Here's a breakdown of possible scenarios:

### **Bullish Case (Upside Potential) 📈**

✅ **Break Above $1,800** Could Trigger a Rally:

- A confirmed breakout could liquidate over **$317M in shorts**, fueling upward momentum.

- Next targets: **$2,000 → $2,500** (Elliott Wave suggests **$2,478**).

✅ **Pectra Upgrade (May 7)** – Expected to boost network efficiency, possibly increasing demand.

✅ **Whale Accumulation & On-Chain Strength** – Long-term holders at ATH signal confidence.

### **Bearish Risks (Downside Potential) 📉**

🔻 **Rejection at $1,800 Resistance:**

- Failure to break higher could lead to a pullback toward **$1,730 (support)**.

- If this level breaks, next support lies near **$1,650–$1,600**.

🔻 **Broader Market Sentiment** – If Bitcoin weakens, ETH may follow.

### **Short-Term Outlook:**

- **If ETH holds above $1,730**, a retest of **$1,800+** is likely.

- **If $1,800 breaks**, expect a run toward **$2,000+**.

- **If $1,730 fails**, a dip to **$1,650–$1,600** could happen.

### **Final Verdict:**

The **bias leans bullish** due to strong technicals and upcoming catalysts, but a rejection at resistance could bring a short-term dip. Watch **$1,730 (support)** and **$1,800 (resistance)** for confirmation.

**Will ETH go up or down?**

- **Up if $1,800 breaks** (target $2K+).

- **Down if $1,730 fails** (target $1,650).