ETH Faces Short-Term Pullback Risk Amid Resistance at $1,920

Ethereum has returned to a key resistance area around $1,920 after its recent advances. According to the chart analysis, this could trigger a short-term pullback in the price of ETH.

A confluence zone near $1,870 is seen as an important support level, where a Fibonacci retracement meets two trendlines. If Ethereum holds above this area, it would preserve its higher-low structure and create a cleaner base for another attempt higher.

In contrast, Ali Martinez's on-chain analysis suggests that Ethereum entered a stronger valuation regime after moving above its MVRV 0.8 Pricing Band near $1,800. He expects the price to reach around $2,300 before potentially hitting a target of $3,000.