The market is looking at the possibility of shifting the area from a previous resistance to a new one, according to foreign media, which has recently returned to the ETA to a key price level of $1842. If the buyout continues, the ETH rebound structure is expected to continue in the near future; if it fails again, the short-line movement may be weaker again.

1842 dollars for short-term focus.

The article mentions that ETH, after having broken between $1842 and $1868, transformed the region from resistance to support. In the past 24 hours, prices have fallen short of this area and then returned to the top.

At the time of submission, ETH reported $1904, an increase of approximately 2.35 per cent for 24 hours. It was observed that, if the market buys continued to prevail, this retrogression could be seen as an acknowledgement of the new support and the price structure would be preserved.

  • Key support areas: US$ 1842 to US$ 1868
  • Submission price: approximately US$ 1904
  • 24 Hours Increase: About 2.35%

$1900 and $2,000 are still a drag.

As judged in the text, if ETH can continue to stand steady at the weekly line level, the market may further test the higher position. The resistance referred to above is concentrated in US$ 1900 and US$ 2000, while the further target is US$ 2163.

However, this judgement is still based on the validity of the supporting position. If the pressure on the sale increases again and the price fails to keep up with the current area, so-called recalculation is difficult to establish and short-line rebounds may be interrupted.

$1710 to $1750 is the lower risk area.

According to the article, if ETH again breaks the current support belt and continues to go down to between $1710 and $1750, the pre-supposition would be significantly weakened. This means that the market's judgement of the effectiveness of the breakthrough will continue to depend on the sustainability of the supporting position.

In addition to the price structure, several supporting factors are mentioned. First, it has risen to about 35 per cent of its historical high, and the flow of supplies has been reduced. Second, ETH spot ETF flows have been transformed into net inflows, indicating an improvement in institutional demand.

The data on the chain provides additional support

At the same time, the article notes that the Etheraf is still in the lead in the real world asset market for monetization, and that the associated assets are currently on hold of over $15 billion. It was observed that these chains, together with the financial dimension, were providing additional support for ETH.

Reference is also made to the long-standing view of Chairman Tom Lee of Bitmine that, if the currency rises to $250,000, ETH has the opportunity to hit $120,000. But this is part of the personal judgement that the short-term market is more concerned about whether the support position around $1842 will hold.