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ETH Ethereum sticks to key support, analysts focus on $1,840 target
Ethereum is currently firmly holding a key short-term support area, and analysts are closely watching the possibility of moving towards $1,840. Observers point out that as long as prices remain above cyclical lows, from a broader perspective, Ethereum is likely to continue to build a solid long-term accumulation foundation.
Short-term support remains critical
After recent gains, ETH has entered a sideways consolidation phase, hovering above the key support range of US$1,720 to US$1,745. This area has been defended many times by buyers and has become a more meaningful technical location in the current environment.
Analyst Always Win pointed out that this pattern signals a potential short-term breakthrough. If buyers continue to guard this support band, prices may soon try to hit the $1,820 to $1,840 range.
Always Win said that as long as the US$1,720 to US$1,745 region remains solid, the short-term uptrend will remain valid. Even if Ethereum retests this support level, it could usher in another wave of gains.
The first resistance level to focus on is $1,800. Continued breakthroughs at this level will increase the likelihood of breakthroughs and show that buyers are regaining control of the situation. After this point, the next target range appears between $1,820 and $1,840.
Indicators·Level·Importance
Support Range·US$1,720-US$1,745·Critical to maintaining the short-term bullish structure
First resistance level·US$1,800·Breaking through this level will strengthen the breakthrough scenario
Target range·US$1,820-US$1,840·If upward momentum continues, pay attention to this range
Conversely, a loss of support between US$1,720 and US$1,745 may weaken the current bullish outlook. If this happens, ETH may be forced to find a new balance within a wider price range.
Triangle pattern suggests long-term accumulation
From a more macro perspective, some analysts believe that Ethereum may be forming a large-level triangle pattern. The main condition for this scenario is that prices continue to remain above current cyclical lows.
XForceGlobal commented that Ethereum operates in a broad correction structure, which could turn into a strong accumulation phase as long as cyclical lows are preserved. According to the analyst, the market may take more time to establish a bottom before launching the next major rally.
XForceGlobal emphasized that its bullish expectations are not just pursuing short-term gains. At this stage, the main focus is on position management and preparing for subsequent markets before a larger structure is confirmed.
Therefore, from a macro perspective, cyclical lows are of special importance. If Ethereum remains on this foundation, the cumulative logic still holds. However, a break below cyclical lows could weaken the triangular pattern and open up room for a deeper pullback.
Currently, the main focus of traders and analysts from both short and long-term perspectives is the defense of key support levels. In the short term, the $1,720 - 1,745 range remains the focus; from a broader perspective, retaining cyclical lows is the key to determining Ethereum\'s future direction.
