Ethereum trades at $1,579 as analysts highlight $1,750 resistance and $1,370 support levels

Ethereum is currently trading at around $1,579.52 following a modest 24-hour recovery. Despite the short-term uptick, technical indicators show persistent downward pressure. The price remains below several key thresholds, making analysts cautious about the near-term outlook. Failure to reclaim these critical levels signals continued market uncertainty for the world’s second-largest cryptocurrency.

Key resistance and short-term outlook

Analyst Ted Pillows notes that Ethereum has revisited its recent lows and momentum continues to be subdued. According to Pillows, the $1,750 level stands out as a primary resistance area. If Ethereum can break above and hold this zone, a relief rally toward the $1,980 to $2,000 range could develop. The next significant supply region is observed near $2,079, representing a further challenge for bullish traders.

Conversely, if Ethereum fails to surpass $1,750, any upward movements may remain short-lived. In this scenario, the price could slide back to test $1,560, and if weakness continues, a further pullback to $1,500 or even $1,370 may occur.

Volume zone as a decision point

Ali Charts, a well-known crypto analyst, highlights that Ethereum has been trading within a significant volume block between $1,584 and $1,683. Within this range, roughly 4 million ETH have changed hands, making it a major decision zone for the market’s next direction. Ali Charts, who is renowned for his on-chain and market-based analyses, emphasizes the importance of this price band.

If Ethereum manages to hold this volume zone as support, renewed upside potential could target the $1,980 and $2,079 marks. However, a dip below $1,584 and failure to reclaim that level would suggest a weakening structure, raising the possibility of renewed pressure toward the $1,500 and $1,370 support regions.

Data from large investors indicates continued pressure

An assessment shared by analyst Darkfost reveals that the unrealized profit ratios of large Ethereum wallets have turned negative. This shift suggests that major investors are now in loss territory, creating market stress similar to capitulation scenarios seen in previous cycles, such as in 2019.

Within this framework, the $1,584 to $1,500 range remains important in the short term. Should selling pressure intensify, the wider range between $1,370 and $1,070 could emerge as the next major buy zone. While some analysts like Cyclop see strong demand building in this band, others believe close attention is warranted around the $1,300 to $1,200 levels over the longer term.

Overall outlook remains cautious

For now, the most decisive bullish signal for Ethereum would be holding the $1,584 to $1,683 support zone, followed by a successful retest of $1,750. Until these milestones are reached, any rebound is likely to be fragile. To the downside, the $1,500 and $1,370 levels are crucial, while the $1,980 to $2,000 region remains the main focus for any sustained upward move.

The post Ethereum trades at $1,579 as analysts highlight $1,750 resistance and $1,370 support levels appeared first on COINTURK NEWS.