Ethereum price at crossroads: $1.750 is the key zone

The Ethereum price is showing a recovery of more than 4.3% today and is currently trading around $1.635, However, it is far from a celebration for Ethereum holders, as a crucial resistance zone will determine whether the market moves higher or falls back to levels below $1.500,

Ethereum is available at OKX and Bybit.

Everything depends on $1.750 to $1.800

Analyst TedPillows shares a clear analysis on X. According to him, the zone between $1.750 and $1.800 is the major pivot point for Ethereum at the moment. If the price manages to break through that zone and close above it, the path opens up for further gains towards higher levels such as $1.873 and eventually even $1.950 and higher.

On the daily chart, it is clearly visible that Ethereum recently fell sharply from the $2.000 region and landed in a strong support zone around $1.540 to $1.580, Today’s recovery comes from that zone, but the upward path is still long and full of obstacles.

Threatening decline if resistance is not broken

If the price fails to overcome the resistance between $1.750 and $1.800. TedPillows sees a negative scenario. In that case, he expects Ethereum to fall back again to levels below $1.500. with a possible test of $1.429 as a low point. That would be a severe blow after the current recovery.

The sentiment surrounding Ethereum has been under pressure for some time. Earlier, a statement by the founder of Bankless caused a stir, who described Ethereum as a failed project without a strong ETH price. The coming days will therefore be decisive for the short-term sentiment. If Ethereum manages to capture $1.750. there is reason for cautious optimism. If not, the downside pressure remains.