Ethereum's price is at a crucial stage where significant support and resistance levels could determine its future market direction.
The Turning Point at $1,850
Analysts highlight that Ethereum finds support around the $1,850 zone, a historically significant level influencing price behavior. Losing this level could lead to a decline to $1,640, while holding it may sustain bullish momentum.
Resistance Zones and Possible Breaches
Key resistance levels for Ethereum are at $2,500 and $2,800. Breaking these levels could lead to a stronger uptrend and achieve higher price targets.
Fibonacci and Ethereum's Market Cycles
Analyst BONTESA emphasizes the significance of the 0.786 Fibonacci level at $1,572 and the possibility of support or bounce from this zone. Such levels have previously served as indicators for Ethereum's market reversals.
Traders closely monitor Ethereum's resistance and support levels, as their adherence or breach will determine subsequent market movements.
