#EthereumFuture $ETH

Ethereum encounters key resistance at the level of 1895 USD

According to the heatmap of the cost distribution (CBD) for Ethereum, a significant concentration of supply is marked at the level of 1895.50 USD, where 1.64 million ETH is held by investors who bought in November 2024. This level, identified as potential resistance, may cause selling pressure as holders may try to break even or secure profits.

Based on technical analysis, resistance at the level of 1895 USD receives further confirmation. The price is holding near the 50-day exponential moving average (EMA) on the daily chart, a critical trend reversal indicator. Failure to break through this EMA may signal further bearish momentum, while a sustained upward movement may give hope to bulls.

Nevertheless, Ethereum remains in a clear downtrend on higher time frame charts, with no definitive signs of a bullish reversal. A daily close above 2142 USD is essential to trigger a potential rebound, breaking the pattern of lower highs and lower lows.