Ethereum Price Prediction: Is $1.8K or $2K More Likely for ETH’s Near Future?

Ethereum is consolidating around $1.9K after recovering sharply from the June and July lows. The broader structure has considerably improved, but ETH still remains below several important resistance levels, and at the moment, the market is at a key decision point.

Ethereum Price Analysis: The Daily Chart

The daily chart shows ETH trading around $1.9K, with the price currently caught between the 1.8K support zone and the $2.1K resistance area. The latter is particularly important because reaching it would mean that the market has broken past both the 100-day and 200-day moving averages and is ready to build a new uptrend.

ETH’s recovery from the $1.55K area has produced a sequence of higher lows and pushed the asset back above the white trendline, which is the upper boundary of the long-term descending channel that has held ETH captive for months. However, the broader trend cannot yet be called completely bullish, as the 200-day moving average remains well above the current price and continues to slope lower around $2K.

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