- Ethereum struggles below key resistance, facing bearish pressure after repeated failed breakouts near $2,100 and $2,300.
- The market structure remains weak, with lower highs and lows reinforcing a bearish trend unless bulls reclaim critical levels.
- If Ethereum loses the $1,800 support, selling pressure could accelerate, potentially testing lower demand zones near $1,600 and $1,440.
Based on Crypto analyst Ali, Ethereum price action is still bearish since it cannot reclaim key resistance points. The currency fluctuates around $1,817.79, with a 0.52% fall. The analyst recommends the $2,100 and $2,300 as levels to watch, which have to be recovered to affirm a bullish reversal. In addition, Ethereum has probed a pivotal support area numerous times, rendering this level an important one in market sentiment.
Market Structure and Key Levels
Ethereum has consistently formed lower highs and lower lows, confirming a bearish trend. The price peaked near $4,250 before experiencing a sharp decline. Furthermore, a consolidation phase followed, but the asset failed to sustain above $2,750. This failure triggered a steep drop, causing Ethereum to trade below $2,150. Consequently, the market remains under selling pressure.
Several key levels influence Ethereum’s current movement. Resistance zones are noted at $2,750 and $3,450, which have rejected all the attempts to go higher. Support zones also appear to be at $1,600 and $1,440. The price has reached these levels on multiple occasions, so they are important when considering future price action.
Historical Price Cycles and Trend Shifts
According to Crypto Caesar, Ethereum’s price history exhibits recurring cycles of bullish and negative patterns. It had previously hit an all-time high of over $4,800 before beginning a precipitous decline. After that, the market established a resistance level at about $4,000, which further constrained upward advances.
During 2022, Ethereum fell sharply and created strong support between $1,600 and $1,800. Multiple retests of this range highlight its importance. Moreover, additional demand zones are visible near $1,200, where accumulation has historically occurred. If Ethereum fails to hold above $1,800, downside pressure could increase, testing lower support levels.
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, if buyers step in, Ethereum could aim for $2,400 as an initial target.
