Ethereum is currently trading within a long-term support area, as short-term investors wait for a decisive breakout signal. According to market analysts, this price level resembles past cycles where Ethereum found its bottom and strong recoveries began.
Long-term support back in focus
Crypto analyst Kamran Asghar highlights that Ethereum is once again testing a major macro support zone, historically recognized as an accumulation area. According to Asghar, ETH is situated in a long-term price corridor where previous severe corrections ended and upward reversals took root.
Weekly charts show Ethereum trading around $1,736, retesting the upward trendline that has underpinned the price across multiple market cycles. The referenced accumulation region has acted as a foundation during significant pullbacks in the past, and several rebounds have launched from these levels.
Kamran Asghar observes that Ethereum’s current market structure closely resembles previous cycle lows, adding that preserving this support could set the stage for a new bullish turnaround akin to past consolidation periods.
According to Asghar, the relative strength index (RSI) is also hovering near historically weak levels. This signals that, although ETH remains above long-term support, overall market sentiment is still subdued.
On the other hand, a drop below the trendline and accumulation range could undermine bullish expectations. If that scenario unfolds, the risk of a deeper correction may come into play.
Key short-term levels: $1,750 and $1,670
Meanwhile, CRYPTOWZRD reports that while Ethereum maintains its stance above critical support, it lacks the momentum to confirm a broader recovery. The next major move, according to the analyst, hinges on whether ETH can reclaim the $1,750 resistance, or if it loses the $1,670 support zone.
On the daily chart, Ethereum rebounded from lows near $1,500 earlier this month and is now trading close to $1,730. However, the price remains trapped below a descending trendline that has capped upward moves since April. Horizontal resistance levels also continue to suppress bullish momentum.
CRYPTOWZRD notes that conquering the $1,750 zone could improve the short-term outlook, potentially bringing higher resistance levels at $1,800 and $2,200 back into focus.
The analyst further points out that Ethereum is still closely tracking Bitcoin’s price action and has yet to deliver a decisive breakout signal of its own. On the downside, $1,670 stands out as primary support. Slipping below this region could amplify selling pressure and increase the risk of retesting lower support levels.
For now, Ethereum appears pinned between support and resistance. As a result, traders aiming to open new positions are watching closely for the next significant price reaction before making any moves.
