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Ethereum ETH $2,461.35 Ethereum 2.48% Market capitalization $297.04 billion VOL. 24 hours $0.58 billion is resuming its growth attempts after falling below $ 1,600, but is facing strong resistance around $ 1,615. The price is currently trading below this level and below the 100-hour simple moving average, indicating market indecision and the possible formation of a new price range. Despite the breakout of the downtrend line at $ 1,590, effective growth is possible only if several key barriers are overcome.
After the local low of $ 1,538, the price rose to $ 1,580 and exceeded the 23.6% Fibonacci retracement level of the fall from $ 1,690 to $ 1,538. However, the main resistance zones at $ 1,615 and $ 1,655 remain critical for further growth. If these levels are overcome, Ethereum could reach $ 1,700, and in an optimistic scenario, $ 1,750−1,800.
However, if the breakout above $ 1,615 fails, a new decline is likely. Near-term support is located at $ 1,575, with the main zone at $ 1,540. A break below this level opens the way to $ 1,480, and then to $ 1,420−1,400. Indicators also point to uncertainty: The MACD is losing momentum, and the RSI has dropped below 50.
Thus, the next few hours will be crucial: either ETH will receive a new impetus for growth or will roll back to new local lows.