- Ethereum Price remains below a key resistance zone near $1,750.
- Analysts are watching for a range low retake before turning bullish.
- A break below $1,650 could expose ETH to further downside.
Ethereum Price is attempting to stabilize after a sharp decline, but analysts remain cautious as the asset continues to trade below major resistance levels. At press time, ETH was down 0.51% over the past 24 hours at $1,668.14. While buyers have defended support around $1,650, market participants are waiting for stronger confirmation before calling a trend reversal.
Ethereum Price Must Reclaim Range Support to Shift Trend
The current Ethereum Price structure continues to reflect a market searching for direction. Daan Crypto Trades said he is monitoring a potential deviation below the range, followed by a reclaim of the range low. Such a move could indicate that sellers are losing momentum.
For now, the analyst remains cautious. He described the latest move as another breakdown within a larger bearish trend rather than the beginning of a sustained recovery.
Earlier this week, Daan highlighted $1,750 as the most important level for bulls. According to his analysis, ETH must reclaim that area to break the ongoing pattern of bearish retests and lower lows.
The Ethereum Price recently bounced from local lows, producing a respectable weekly close despite broader market weakness. However, technical confirmation remains absent while the asset trades below major resistance zones.
Ethereum Price Faces Resistance While Support Holds Firm
The Ethereum Price is currently trapped between well-defined support and resistance levels. The immediate support zone sits near $1,650, which has attracted buyers during recent sessions.
If ETH maintains this level, traders may look for a move toward the $1,690 to $1,700 resistance region. A successful break above that zone would improve market sentiment and potentially pave the way for a challenge of $1,750.
The Ethereum Price remains vulnerable if support fails. A daily close below $1,650 could increase selling pressure and expose the market to a deeper correction toward $1,600.
Despite the bearish backdrop, downside momentum has not accelerated significantly. Until the Ethereum Price reclaims higher levels, however, the broader trend remains under pressure, with $1,750 standing out as the critical threshold that bulls must overcome.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
