Ethereum (ETH) is currently facing a critical technical test, with its price oscillating within the range of $1,750 to $1,850, failing to effectively break the upper resistance level.
If the bulls fail to break through the $2,000 mark in the short term, it may lead to a price pullback to lower support levels.
Technical Analysis: The OBV indicator shows rising selling pressure.
The OBV indicator for Ethereum shows a bearish divergence on the 4-hour chart, accompanied by an upper shadow structure, indicating weakened buying momentum.
If ETH breaks below the $1,750 support level, it may trigger further selling pressure, leading to a downward price movement.
Support and Resistance: Key Price Level Analysis
Support Level: The range of $1,750 to $1,800 is an important support area for recent prices.
Resistance Level: $1,850 is the current major resistance level, and breaking this level may open up upward potential.
Key Breakthrough: If ETH can break above $2,000, it will enhance bullish sentiment in the market and may trigger a larger upward movement.
Risk Warning: Downside risks should be heeded.
If ETH fails to maintain the $1,750 support level, it may lead to a price drop to lower regions.
Overall, Ethereum is currently at a critical technical node, and the price movement in the coming days will determine its market direction in the short term.
Investors should stay alert and respond flexibly to market changes.