Ethereum Reclaims Local Range Against Bitcoin as Bulls Eye Higher Targets
Ethereum is currently trading at $1,800, maintaining support above critical levels. The price action is cautious due to global trade conflicts and weak economic indicators impacting investor sentiment.
Key points include:
- Bulls are attempting to reclaim the $1,850 zone.
- Recent ETH price increases suggest potential upward momentum if resistance levels are breached.
- Analyst Daan noted Ethereum's strength relative to Bitcoin, which has positively influenced altcoin performance.
- Early signs of a bullish structure are emerging, though selling pressure could threaten this trend.
- Next targets for bulls include the 4-hour 200 MA and EMA, crucial for a potential higher timeframe reversal.
- Consolidation around $1,850 and $1,725 indicates effective defense of key levels by bulls.
The upcoming week is critical. A breach below $1,725 may lead to renewed selling pressure, while stability in broader markets or Bitcoin gains could extend Ethereum's recovery.
