Ethereum continues to feel pressure amid failed attempts to breach key resistance levels at $2,100 and $2,300, impacting overall market sentiment.
Market Structure and Key Levels
Ethereum consistently forms lower highs and lower lows, confirming a bearish trend. Prices peaked near $4,250 before seeing a sharp decline, failing to sustain above $2,750. Key resistance zones include $2,750 and $3,450, where prices face rejection. Support levels are noted at $1,600 and $1,440, tested multiple times by the market.
Historical Price Cycles and Trend Shifts
Historically, Ethereum has experienced cycles of bullish and bearish patterns, having reached an all-time high of $4,800. A resistance level of $4,000 emerged, restricting further advances. In 2022, prices fell sharply, establishing strong support between $1,600 and $1,800, highlighting its importance. Additional demand zones are seen near $1,200.
Ethereum's Future: Prospects and Challenges
Ethereum's ability to reclaim higher resistance levels will dictate the next trend. The market structure remains weak, and failed breakout attempts reinforce bearish pressure. However, with buyer support, Ethereum could target $2,400 as an initial upward goal.
Ethereum must overcome several critical resistance levels to change the current trend. Continued decline will focus on support below $1,800.
