While the cryptocurrency market does not exhibit a clear bull or bear trend, Ethereum remains stable within the $1,800-$2,000 range.
Current Market Situation
The cryptocurrency market remains neutral; Ethereum shows negligible price changes from previous days.
Key Support and Resistance Levels
On the hourly chart, ETH has once again bounced back from the local support of $1,854. If the daily bar closes far from that level, a test of the $1,900 area may occur. Bulls need to raise the price above $2,000 to regain initiative, possibly leading to a test of the $2,152 resistance.
Midterm Ethereum Prospects
From a midterm perspective, buyers are not yet ready for a reversal, confirmed by falling trading volumes. Sideways trading within the $1,800-$2,000 range seems to be the more likely scenario.
As of now, Ethereum is trading at $1,881. Given the current volumes and levels, the price might remain relatively stable in the near term.
