Ethereum Holds Key Support at $1,850 as Bulls Target $2,350

Ethereum is navigating a crucial support level at $1,850 as it maintains a short-term bullish structure. Analyst Ali Martinez noted that ETH could revisit the upper boundary of its ascending channel near $2,060 if support around $1,850 continues to hold.

The one-hour chart shows Ethereum recovering toward $1,886 after briefly testing the lower trendline. Previous reactions from this boundary produced moves toward the middle and upper sections of the rising channel.

A confirmed break above the first resistance near $1,980 could strengthen the rebound and open the path toward $2,060. However, a decisive break below $1,850 would invalidate the immediate channel rebound and increase the risk of a deeper short-term correction.