Ethereum (ETH) is back in the spotlight as bullish momentum pushes the crypto giant higher. With strong buying interest and renewed market confidence, ETH is catching the attention of traders and investors alike. As the uptrend strengthens, all eyes are now on where it could head next.
At the time of writing, Ethereum is trading at $1,828.34 with a 24-hour trading volume of $11.57B and a market cap of $220.74B. The ETH price on the 24-hour time frame is showing stability; however, its price over the last week is up by 2.30% and showing high potential signals for further upward momentum.
Source: CoinMarketCap
Ethereum signals high potential and poised to break $1880
According to a prominent crypto analyst, ETH is in a phase of price consolidation at present, with a temporarily uncertain market but ready to break out. In recent trading sessions, Ethereum has traded in a very narrow band between $1,800 and $1,870.
This range-bound movement indicates a temporary equilibrium between buyers and sellers, with none of them exhibiting control. A traditional configuration typically leading to a larger directional move. As professionals gauge turning points in market tone and activity. Ethereum’s movement is closely observed for indications of a potential breakout or breakdown.
Technical analysis identifies key support in the $1,810–$1,820 zone. An area in which buyers have consistently intervened to halt declines. The area has served as a short-term floor to cushion the asset in instances of selling.
On the other hand, there is resistance approaching the $1,860–$1,880 band where selling orders have put a lid on Ethereum’s upward movement. A strong breakout above this ceiling might set a bullish momentum and encourage additional buying interest, particularly among traders looking to return to the $1,900+ region.
