ETH is still trading inside a descending channel, with the price close to key support.
Support Zone Holding: The $1,750–$1,830 area has provided a strong support base.
Ichimoku Cloud Resistance: The red Ichimoku Cloud above is acting as a crucial
resistance barrier.
Bullish Scenario:
If ETH breaks out of the descending channel, the first major resistance to watch is $2,400–$2,600 (cloud resistance).
A confirmed breakout could lead to a move towards $4,000+.
Bearish Continuation :
If ETH fails to break out, it could retest the $1,750–$1,830 support area.
A breakdown below $1,750 could open the door to lower levels around $1,600.
If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!
Thanks for your support!
DYOR. NFA
Support Zone Holding: The $1,750–$1,830 area has provided a strong support base.
Ichimoku Cloud Resistance: The red Ichimoku Cloud above is acting as a crucial
resistance barrier.
Bullish Scenario:
If ETH breaks out of the descending channel, the first major resistance to watch is $2,400–$2,600 (cloud resistance).
A confirmed breakout could lead to a move towards $4,000+.
Bearish Continuation :
If ETH fails to break out, it could retest the $1,750–$1,830 support area.
A breakdown below $1,750 could open the door to lower levels around $1,600.
If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!
Thanks for your support!
DYOR. NFA
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.