Ethereum is testing the $1,850 area after a sharp rebound from recent lows. A clean reclaim could send ETH toward $2,000-$2,050, while rejection may put sellers back in control.
Ethereum is extending its rebound after a sharp move from recent lows, but the rally is now approaching a major resistance zone.
According to More Crypto Online, the ETH/USD 30-minute chart shows Ethereum pushing into a key Fibonacci area after completing a short-term Elliott Wave advance. The main upside zone sits between $1,823 and $2,047, where several retracement levels and a descending trendline could test buyer strength.
ETH/USD 30-Minute Chart. Source: More Crypto Online (@Morecryptoonl) via TradingView
The chart shows ETH trading near $1,827 after a strong recovery from the $1,500 area. Fibonacci levels mark possible resistance at $1,823, $1,932 and $2,047, while short-term support appears near $1,789-$1,770.
If Ethereum holds above the lower support zone, the rally could continue toward higher Fibonacci resistance. However, rejection near current levels could signal that the short-term push is losing momentum.
For now, traders are watching whether ETH can extend its Elliott Wave move toward the $1,930-$2,050 area or pause after its recent breakout.
Ethereum is approaching one of its most important technical levels after rebounding sharply from recent lows. What was once a major support zone around $1,850 is now being tested from below, setting up a decisive moment for the market.
According to Cheds Trading, the ETH daily chart shows Ethereum performing a classic "underside test" of the $1,850-$1,875 zone. The area previously acted as support in February and March before eventually breaking down during the June sell-off.
ETH/USD Daily Chart. Source: Cheds Trading (@BigCheds) via TradingView
The chart highlights multiple historical reactions around the $1,850 region, reinforcing its significance. Ethereum has rallied from lows near $1,500 and is now attempting to reclaim the former support area while trading near the middle Bollinger Band and beneath several key moving averages.
According to the analysis, a decisive move above $1,850 could mark a shift in momentum and open the door toward higher resistance levels near $2,000-$2,050. Reclaiming the zone as support would suggest buyers are regaining control after weeks of weakness.
However, failure to break above the underside test could validate the previous breakdown and encourage renewed selling pressure. In technical analysis, former support often turns into resistance, making this area a critical battleground between bulls and bears.
For now, traders are watching whether Ethereum can flip the $1,850 zone back into support or whether the daily retest marks the end of the recent recovery attempt.
