Ethereum slipped below US$1,800 as fresh United States-Iran tensions drove investors out of risk assets. Charts still point to a possible climb toward US$2,140 if resistance breaks, but holding US$1,750 remains critical to the current recovery.
Ethereum fell below US$1,800 after renewed conflict between the United States and Iran increased pressure on global financial markets. Oil prices rose above US$74 a barrel as investors moved into safer assets, weighing on cryptocurrencies and other higher-risk investments.
Charts still suggest Ethereum could rise toward US$2,140 if it breaks above the US$1,825 to US$1,850 resistance zone. On the downside, analysts said US$1,750 remains the key support level, while a move below it could open the way to US$1,700 and then US$1,505.
Market data also showed a large number of short positions between US$1,840 and US$1,860, which could add buying pressure if those levels break. According to Grafa: "I'm going LONG on Ethereum $ETH if it breaks $1,850," crypto analyst Ali Martinez said.
Ethereum's near-term outlook remains tied to geopolitical events and broader market sentiment as traders watch developments in the Middle East. At the time of reporting, Ethereum traded at $1,781.86.
Source: Grafa
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