ETH needs to clear $1,900 resistance for potential upside

Ethereum (ETH) is currently consolidating within a range of $1,500 to $1,850 on its daily chart, CryptoPotato reported. According to the outlet, while the $1,800 support level on the daily chart was breached, buying pressure near the $1,500 mark prevented further declines. However, sellers maintain control as ETH trades below its 100-day and 200-day moving averages. On the 4-hour chart, a sharp sell-off followed the break of the $2,000 support level, pushing the price to the bottom of its range, with the subsequent rebound appearing corrective. The analysis identifies the $1,820-$1,900 area as a key resistance zone, concentrated with Fibonacci retracement levels. A failure to break through this zone would likely mean the current upward move is merely a temporary retracement within a broader downtrend. Conversely, a decisive break above $1,900 could weaken the bearish structure, opening up the possibility of a rise toward $2,000.