Overview of the main elements:
- The price of Ethereum is consolidated just below this level.
- A break could trigger an increase to $ 1,950 and $ 2,100.
- The data on the chain show a strong accumulation by investors, which ensures the stability of the current structure of the ETH.
The price of Ethereum (ETH) has entered a critical phase while it consolidates just below a major level of resistance at $ 1,880. After exceeding $ 1,800 last week and reached a local summit nearly $ 1,873, the asset maintained almost $ 1,830 with a slight increase of 1 % in the last 24 hours.
While the month of April ended with a fourth consecutive monthly loss of the price of the ETH, the upward dynamic resurfaced.
Analysts now watch closely if the main Altcoin can return to $ 1,880 and speed up to the next key resistance zones at $ 1,950 and $ 2,100.
Ethereum prices defends $ 1,800
The current Ethereum negotiation range has created a narrow but important battlefield between $ 1,800 and $ 1,880. At the time of the press, the price of the ETH remained stable at $ 1,812.99 after a modest rebound from its lower at $ 1,734.
Altcoin is currently negotiated just below a short -term descending trend line, with immediate resistance to $ 1,835 on the time graph.
According to the thermal liquidation map of The Kingfisher, short and dense liquidation clusters are between 1,835 and $ 1,870. These levels act as magnets for prices, increasing the probability of volatility peaks.
Above these areas, the level of $ 1,880 remains the most important obstacle. If the bruises manage to reverse this level, the price of Ethereum could undergo relatively few frictions up to $ 1,950.
Conversely, liquidity is also stacked around $ 1,800 and $ 1,780. If the course fails to maintain itself at $ 1,800, it could fall back to deeper areas of liquidity, which would intensify the lower -term pressure.
On-chain data shows strong ETH support near $ 1,799
Ethereum’s current consolidation zone is supported by a strong purchase activity on the chain. Intotheblock data confirm that more than 6.36 million ETH were bought by approximately 4.5 million addresses in the range between 1,772 and $ 1,824. This high concentration of wallets creates a solid support base just below current levels.
This fork coincides with the Fibonacci trace level of 50 % of the increase from 1,734 to 1,873 dollars. If the price of the ETH plunges towards this area, investors should defend their cost base by accumulating more tokens, thus helping ETH maintain its structural force.
Analysts warn, however, that if this area is lost, the next major support may not appear before $ 1,650, due to the low historical volume below $ 1,772. Despite the uncertainty that reigns over the entire market, this purchase activity shows increasing confidence in the most important Altcoin.
Rupture structure resembling the configuration of 2020 for bitcoin
Market analyst Jackis compared the structure of the price of Ethereum to the formation of the Bitcoin station wagon in 2020. According to him, the price of the ETH is negotiated in a descending channel which resembles the accumulation range formed by the BTC before its explosive passage above $ 20,000.
The cryptocurrency analyst Jackis noted that if the price of Ethereum breaks this model, he could initiate a parabolic rally in the coming months.
In addition, Crypto Tony also noted that $ 1,880 is the level that will determine a trend reversal. On the weekly graphic, the last highest lower of Ethereum before the downward trend was around this resistance. An overtaking of this level would confirm a new higher summit.
The ETH is currently near the middle of its long -term channel, which means that the next sessions will be decisive to confirm whether the ETH can extend the current increase or if there is a recovery of the decline.
The price of the ETH targets $ 1,950 – $ 2,100 in the event of a break in $ 1,880.
From a technical point of view, the price of the Ethereum remains in a neutral position to a bullish. Overcoming $ 1,880 could lead to $ 1,950 increase targets and at a psychologically high level of $ 2,000. However, in the short term, if the dynamics accelerate, the price of the ETH could reach $ 2,050 or $ 2,100, according to analysts.
Currently, the daily relative force index (RSI) is around 56, which means that there could still be increased before becoming over -going.
As long as the price of the ETH is maintained above $ 1,785 and keeps the support group $ 1,772-$ 1,824, the structure promotes bullish.
The price of Ethereum should show if it is preparing for a new increase or it returns to lower support levels in the coming days.
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