Ethereum (ETH/USD) – Weekly Analysis
On the weekly timeframe, Ethereum is currently testing a key support level around $2,120 after a strong bearish move from the previous highs near $4,000+. Price has entered a major demand zone between $1,700 – $2,000, where buyers previously showed strong interest.
If this support holds, we could see a bullish retracement toward $2,850, which is the next major resistance and previous structure level.
However, a weekly close below $2,120 could trigger further downside, potentially pushing price deeper into the demand zone.
Key Levels:
Support: $2,120 – $1,700
Resistance: $2,850
Bias: Neutral to bullish while price holds above the demand zone. A break below support could shift momentum bearish.
On the weekly timeframe, Ethereum is currently testing a key support level around $2,120 after a strong bearish move from the previous highs near $4,000+. Price has entered a major demand zone between $1,700 – $2,000, where buyers previously showed strong interest.
If this support holds, we could see a bullish retracement toward $2,850, which is the next major resistance and previous structure level.
However, a weekly close below $2,120 could trigger further downside, potentially pushing price deeper into the demand zone.
Key Levels:
Support: $2,120 – $1,700
Resistance: $2,850
Bias: Neutral to bullish while price holds above the demand zone. A break below support could shift momentum bearish.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.