Ethereum Price Struggles to Maintain $1,935 Support Level
The price of Ethereum (ETH) is at risk of losing a crucial support level at $1,935, marking the midpoint of the supply zone that has become a breaking point for the extended bullish trend ranging from $1,864 to $2,004. If the $1,935 level fails to hold firm, it could spell disaster for token holders, with ETH potentially sliding down to the psychological level of $1,800 or, in severe cases, rendering the bullish argument ineffective below $1,753.
Both the RSI and AO indicators support this outlook, trending southward as momentum continues to weaken. On the flip side, increasing buying pressure is substantial enough to demonstrate Ethereum's ability to overcome the supply barrier mentioned above at $2,009, fostering optimism and potentially propelling ETH back onto the upward trend. This could result in a price increase to $2,136, representing a 10% gain from the current level.
Both the RSI and AO indicators support this outlook, trending southward as momentum continues to weaken. On the flip side, increasing buying pressure is substantial enough to demonstrate Ethereum's ability to overcome the supply barrier mentioned above at $2,009, fostering optimism and potentially propelling ETH back onto the upward trend. This could result in a price increase to $2,136, representing a 10% gain from the current level.
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