Ethereum Faces Critical Test as Bulls Defend $1,750 Support Level
Ethereum is currently trading in a tight range, below the $1,850 resistance and above the $1,750 support. Key points include:
- After recovering from $1,400, bulls need to reclaim the $2,000 level for a sustainable bullish trend.
- Market sentiment is cautious amid macroeconomic uncertainty.
- Technical analysis indicates a 4-hour bearish divergence on the On-Balance Volume (OBV) indicator.
- A breakout above $1,850 could lead to a move towards $2,000.
- If Ethereum loses the $1,750 support, it may trigger a decline towards $1,500.
Currently, Ethereum is priced at $1,815. Maintaining support above $1,800 is crucial for building demand and enabling a recovery rally. The next movements will be critical in determining Ethereum's trend amidst ongoing volatility.
