Ethereum price holds above $1.750: what now?

The Ethereum price is showing resilience. Despite the downward pressure of recent months, ETH has managed to hold above the $1.750 support level, and according to analyst TedPillows, that is an important signal. The current price stands at $1.780, a gain of 0.1% in the past 24 hours.

Ethereum is available at OKX and Bybit.

Buyers Step In at the Support Level

TedPillows shares a daily chart that clearly shows Ethereum has lost significant ground over the past few weeks. From the peak around $2.400, the price has gradually retreated to current levels. Yet there is now a positive signal: the support around $1.750 is holding, indicating that buyers are actively stepping in at this level.

The chart outlines two scenarios. In the bullish scenario, Ethereum first rises toward the $1.873 zone, a strong resistance level visible on the chart as a broad red band. If the price manages to break through that level, a recovery toward $2.000 or even $2.030 lies ahead. Earlier, the Ethereum price already showed bullish signals toward $2.400, which serves as the next major resistance level.

Bearish Scenario Remains Possible

However, a less optimistic path is also conceivable. If Ethereum fails to stay above $1.800, TedPillows anticipates a fallback to the $1.715 zone. If that zone also fails to hold, the price could drop further toward $1.565 and even $1.445, two green support areas that could function as a bottom in the longer term.

The coming weeks are therefore crucial for the Ethereum price. As long as the support level around $1.750 remains intact, the bullish scenario holds the upper hand. In addition to technical analysis, fundamental interest in ETH is also visible: for instance, Bitmine recently bought another 27,801 Ethereum, and the company now holds 0.48% of the total supply. Whether that is enough to give the price a new impetus will become clear in the market over the coming period.