Ethereum Price Bounces Near $1,850 as Traders Watch for Triangle Breakout

Ethereum's price has been holding steady above the key $1,850 support zone, with traders eyeing a potential breakout towards $1,935. According to Brave New Coin data, Ethereum is currently trading at around $1,854.32, up approximately 0.22% over the past 24 hours.

A symmetrical triangle pattern has formed on the short-term chart, with the upper boundary near $1,865-$1,875. A confirmed breakout could project a move towards $1,935, but buyers need to close above the descending trendline and hold the breakout before the target becomes active.

Despite whale accumulation and the weekly channel retest supporting the bullish case, heavy sell orders above the current price continue to restrict momentum. The first important test sits around $1,885-$1,900, followed by the $1,930-$1,950 region remaining a major supply zone.