Bullish and bearish scenarios
Bullish scenario: If Ethereum can break and stabilizes the price above the $1,660 level, it will face major resistance at the $1,670 zone. The next major resistance is near the $1,720 zone.
Closing over the $1,720 resistance range might start a rising trend to the $1,780 level. Any more gain may pave the way for a move to the $1,840 area.
Bearish scenario: If Ethereum fails to stabilize above the $1,600 zone, another downside correction could start, and the price might drop toward the $1,535 support. Any more losses might call for a test of the $1,500 level.
Closing over the $1,720 resistance range might start a rising trend to the $1,780 level. Any more gain may pave the way for a move to the $1,840 area.
Bearish scenario: If Ethereum fails to stabilize above the $1,600 zone, another downside correction could start, and the price might drop toward the $1,535 support. Any more losses might call for a test of the $1,500 level.
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