$ETH Price Hovers Around $1.8K as Buyers Face Resistance

Ethereum's price has settled into a tight band, ranging between $1,847 and $1,888. The 24-hour trading volume has dropped by 15% to $7.43 billion.

The rebound from the long-term ascending trendline played out as expected, but buyers are now facing their first technical challenge at resistance. Ethereum's price has been defending a sequence of higher lows while consolidating beneath it.

If $ETH reclaim the $1,880 level, the flush to $1,800 looks like a low point. Losing $1,848 would open up the door to a range below $1,840 as the next crucial area to concentrate.