Ethereum Faces strong Resistance at $1,850
Ethereum has been stuck near the $1,850 mark for over a week. it can’t break through due to a lack of buying power. Several technical factors are causing this resistance.
Over the past few days, Ethereum’s price has tried to rise above $1,850 but failed. This is because of multiple technical barriers.
- converging Resistance: VWAP SR, 0.618 Fibonacci retracement, daily supply zone, and Point of Control all cluster around $1,850.
- Volume drought: Attempts to push higher have lacked meaningful volume.
- Channel Context: Ethereum is inside its longer-term price channel, nearing its upper boundary without showing strength.
Ethereum’s VWAP SR (Volume-Weighted Average Price Support/Resistance) has shifted from support to resistance. The 0.618 Fibonacci retracement and daily supply zone also sit near $1,850,reinforcing this area as a rejection zone.
Without a surge in buying volume, Ethereum may remain range-bound or drop to lower supports.Traders should be cautious and manage risk around this critical zone.
For a bullish outlook, Ethereum needs a clear breakout above $1,850 with heavy volume. This would likely attract momentum traders and test higher targets like $1,950 and $2,000. Until then, caution is advised.
