Ethereum has been consolidating in a rising channel after failing to break below the 1754 support zone for weeks. Yesterday, price tapped into the 1854 resistance — which also aligns with a bearish breaker block — but failed to close above, showing two strong rejections so far.
Current Observation:
The 1854 level is holding up as resistance, and the most recent candles show weakness at that zone. If price fails to break and close above it, we could see a move back down toward the 1687–1694 support area.
What I'm Watching:
– A confirmed close below the breaker block zone around 1854 could trigger a short setup, with 1754 as the first target.
– If 1754 breaks, I’ll be eyeing the next zone between 1686.8 and 1694.1 for a potential take-profit zone or reaction.
Key Levels:
– Resistance: 1854 → 1881
– Support: 1754 → 1694 → 1687
If 1854 continues to reject price, I’ll be looking to go short on confirmation, targeting a drop back into the lower support zones.
But if we get a strong close above 1854, I’ll reassess for possible upside continuation.
Let’s see how it reacts.
Trade safe.
pClem Trades
Current Observation:
The 1854 level is holding up as resistance, and the most recent candles show weakness at that zone. If price fails to break and close above it, we could see a move back down toward the 1687–1694 support area.
What I'm Watching:
– A confirmed close below the breaker block zone around 1854 could trigger a short setup, with 1754 as the first target.
– If 1754 breaks, I’ll be eyeing the next zone between 1686.8 and 1694.1 for a potential take-profit zone or reaction.
Key Levels:
– Resistance: 1854 → 1881
– Support: 1754 → 1694 → 1687
If 1854 continues to reject price, I’ll be looking to go short on confirmation, targeting a drop back into the lower support zones.
But if we get a strong close above 1854, I’ll reassess for possible upside continuation.
Let’s see how it reacts.
Trade safe.
pClem Trades
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.