Ethereum investors are closely watching the cryptocurrency’s price movement as it approaches a major technical juncture, with short-term momentum revealing strong buying activity but uncertainties remaining about the next move.
Price Recovers, Markets Monitor Key Zones
Ethereum is currently priced at $1,799.52, generating a 24-hour trading volume of $13.50 billion and a market capitalization of $217.18 billion. Data from CoinMarketCap show that ETH has gained 0.99% over the last 24 hours, following a recovery from earlier declines.
On July 11, 2026, the crypto analyst known as More Crypto Online stated that despite the recent rally from June’s lows, Ethereum’s price still fits within a large corrective structure. The analyst highlighted that recent gains are likely part of an ongoing Elliott Wave correction, rather than the beginning of a new lasting bull market. More Crypto Online asserted that the first downtrend may have concluded, and the current movement could represent a wave-two rally, possibly to be succeeded by another decline in July or August.
The analyst pointed out that if Ethereum remains under certain resistance thresholds, the market could see further declines. A sustained break above these resistance levels, meanwhile, might trigger a larger upward move.
Critical resistance levels identified include $1,815, $1,926, $2,045, and $2,226. If ETH surpasses these points, bearish sentiment could be reversed, increasing the likelihood of a rally.
On the downside, Ethereum holds support at $1,550, $1,400, $1,060, and $900. If the price faces renewed selling pressure, these levels could attract buying interest.
Recent price action, according to More Crypto Online, represents a three-wave corrective structure rather than the five-wave formation typically indicative of an uptrend.
Technical Indicators Signal Short-Term Strength
Short-term technical indicators confirm that buyers currently control the market. Ethereum’s price sits above the mid-Bollinger band at $1,687.45, signaling persistent buying demand. Should the current recovery continue, the upper Bollinger band at $1,865.98 is expected to serve as a key resistance level for ETH.
The Moving Average Convergence Divergence (MACD) indicator further supports the bullish outlook with its line at 9.99566, above the signal line at -12.57129. The histogram remains positive at 22.56694, reflecting improving buying strength in the market.
The upcoming trading sessions may prove decisive. If bulls can push Ethereum’s price above the $1,815 resistance and maintain this level, market attention may shift towards higher barriers at $1,926 and $2,045.
If Ethereum does not break through resistance, market watchers anticipate renewed attention to the $1,550 support zone, which could determine whether the current rally continues or the cryptocurrency resumes a deeper correction.
Ethereum’s near-term direction is therefore likely to be determined by buyers’ ability to clear key resistance levels in the coming days.
| Level | Price ($) | Significance |
|---|---|---|
| Resistance 1 | 1,815 | First barrier to bullish momentum |
| Resistance 2 | 1,926 | Secondary upside target |
| Resistance 3 | 2,045 | Potential launch point for further rally |
| Support 1 | 1,550 | Key level if price declines |
| Support 2 | 1,400 | Zone for potential buyer interest |
Mini dictionary: Elliott Wave correction, a technical analysis principle suggesting that price movements occur in repetitive wave patterns, with corrective waves typically made up of three phases, and motive or impulsive waves comprising five phases. Used by traders to interpret potential price reversals or continuations.
