Ethereum is trading near $1,860, stuck just below a key resistance level at $1,930. After bouncing off its June lows, the crypto remains in a tight consolidation phase as buyers defend the $1,850 support zone.
The 50-day EMA at $1,849 has held up as immediate support, while the 20-day EMA around $1,871 acts as a short-term hurdle. The $1,930 mark aligns with the 100-day EMA and previous horizontal resistance, repeatedly blocking upward moves. A daily close above this level could ignite stronger bullish momentum, but failure to stay above $1,850 might expose lower support near $1,647.
On-chain data shows a slow recovery in buying pressure since late June, with the On-Balance Volume indicator gradually improving despite price stagnation. Crypto analyst Ted Pillows echoes this cautious optimism, noting that as long as Ethereum stays above $1,850, a rally toward $2,000 remains possible. However, traders remain wary until the $1,930 resistance is decisively broken.
This content is for informational purposes and not financial advice.
