Ethereum Price Holds Crucial Support as Momentum Slows Down
Ethereum price continues to hold its vital support level of $1,800, despite signs that the buying sentiment has weakened. According to crypto analyst Michaël van de Poppe, as long as Ethereum trades above this level, the market structure will remain bullish.
Van de Poppe previously identified $1,800 as the critical support level for ETH, and stated that maintaining such levels would help the Ethereum price return to $2,000. If the buy side improves, the price may extend towards the $2,300-$2,500 region.
Currently, Ethereum is trading at $1,867.5, up 0.55% over the last 24 hours. The daily trading volume has reached $19.61 billion, and the market capitalization stands at $225.80 billion. Technical indicators show that momentum is cooling down, with the RSI sitting at 51.40 and the MACD indicating a conservative scenario.