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ETH Bears Take Control as $1.8K Support Seemingly Next to Test

Ethereum’s price has been undergoing a period of consolidation, characterized by fluctuations that have yet to provide a clear directional bias for market participants. After failing to exceed the $2.1K level and experiencing an impulsive bearish leg, the price reached $1.8K and entered a consolidation phase. Nevertheless, the price currently faces three crucial levels: the 100-day moving average at $1748, the 200-day moving average at $1546 as primary support, and the $2.1K price zone as major resistance. Despite this, a downward break of the consolidation range would lead to Ethereum’s next stop at the $1.7K range.

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