Ethereum Price Tests Key Support as Downside Risk Rises
Ethereum's price has been under pressure in recent days, struggling to hold above the key support zone of $1,850. According to Trader Symba, ETH broke above the previous range top near $1,849 but failed to hold the breakout, forming a distribution zone instead.
The current structure leaves Ethereum vulnerable to a deeper retracement if buyers fail to reclaim the $1,850-$1,880 area. The next major downside level sits near the range low around $1,510, while intermediate support can be found around $1,800 and $1,750.
For bulls, reclaiming $1,880-$1,900 would be important, as it could restore momentum and bring the $1,975-$2,000 resistance area back into focus. However, Ethereum has also lost a key ascending support trendline that had been supporting the recent recovery, making its short-term structure even more vulnerable.
The market is currently caught between two important zones, with liquidity building below $1,850 and above $1,975. A move below $1,850 could trigger additional selling pressure as leveraged positions are forced out.