Ethereum is faced with a decisive moment when it is traded in the main zone of resistance. After several unsuccessful attempts to break higher, the price action shows signs of weakness. The next step will be the key when determining whether Ethereum can move its bear structure or continue its macro -nest trend.
Ethereum (ETH) currently tests the key area of resistance, and the reaction here can set the tone for the next main step. Despite the recent rally, several technical factors suggest that Ethereum remains vulnerable to further lack, if this resistance is preserved. Below we break up key mergers in the game, critical support for observation and the conditions necessary for turning the market structure.
Key technical points
- Ethereum checks the resistance at 0.618 Fibonacci, VWAP SR and the main daily SR level.
- The key support is about 1055 dollars, which is a critical high level of time, which should contain to form a bull structure.
- The inability to maintain support risks the rupture of swing at a low level, confirming the continuation of the bearish daily structure.
Detailed technical discussion
The current trading location of Ethereum is located during the merger of the main resistances: the restoration of 0.618 fibonacci, resistance to VWAP supply and significant daily horizontal level. Numerous recent daily candles could not close above this zone, emphasizing constant weakness, despite the rally over the past week.
The key support for monitoring lies about 1055 US dollars, which is aligned with a high level of support with high time. If Ethereum checked this area and held it, this could form a higher level, an early sign of power. Nevertheless, the inability to hold $ 1055 will open the door to violate the previous swing, confirming a new low level of low level and expanding the macro -native trends for daily terms.
From a wider point of view, Ethereum trade place is extremely important. The refusal here increases the likelihood of continuing the deficiency, enhancing the constant scheme of lower maximums and a decrease in minimums.
Only a strong support reaction of $ 1055, supported by an increase in volume and a decisive breakthrough above the current lower maximum, can turn the structure of bulls and assume a significant shift in the trend.
What to expect in the upcoming price action
If Ethereum cannot be overcome exceeding the resistance zone, we can expect another less maximum will be confirmed, which will probably lead to re -testing of the region in the amount of $ 1055. A refusal of this support can cause a deeper sale, making new minimums and continuing the bear structure.
However, if Ethereum finds strong support for 1055 US dollars, followed by a rally supported by volume and breakthrough in relation to resistance, the market can turn bulls, potentially leading to a new above and structural shift to growth.
