Ethereum climbed back above $1,900 on Aug. 6 as renewed spot buying and short liquidations helped buyers defend the recovery. The coin now faces resistance near $1,965, with Fibonacci levels and liquidation clusters set to decide whether it can challenge $2,000.
Ethereum traded near $1,908 on Aug. 6, after touching an intraday high of $1,920, as renewed spot buying pushed the price back above the $1,900 level. The advance followed several days of consolidation and came alongside pressure on traders positioned for further declines.
Buyers defend the $1,856 support zone
Daily price action shows Ether holding above the 38.2% Fibonacci retracement at $1,856.62, a support level measured from the June low of $1,505.42 to the April peak of $2,424.78. Ether has held that zone since mid-July, but it has also struggled to clear the $1,920–$1,965 area above it.
The repeated defense of support and rejection near resistance have built a consolidation range between roughly $1,856 and $1,965. A confirmed break from either side could determine Ethereum's next larger move.
Momentum shows early cracks
The daily Aroon indicator still favors buyers: Aroon Up stood at 64.29%, against an Aroon Down reading of 28.57%. That gap suggests recent highs remain more relevant to the trend than recent lows.
Momentum indicators tell a similar story. The Awesome Oscillator held positive at 23.53, pointing to short-term momentum staying stronger than the longer-term trend, though its green bars have started to contract, suggesting the bullish push is losing some strength as Ether approaches resistance. On the four-hour chart, Ether remains above Supertrend support at $1,842.44. Chaikin Money Flow also returned to 0.07, pointing to modest net buying pressure.
Liquidation clusters could decide the next move
CoinGlass' three-day liquidation heatmap shows the nearest upside liquidity sitting between $1,925 and $1,950, a zone that could force short sellers to close positions and push Ether toward $1,965. That level also marks the 50% Fibonacci retracement, directly below the $2,000 mark.
A daily close above $1,965 would strengthen the bullish case and expose $2,000, with the next Fibonacci resistance at $2,073.58 beyond it. On the downside, the heatmap shows the strongest concentrations around $1,870 and between $1,850 and $1,860 — a break below $1,856 could extend losses toward the four-hour Supertrend at $1,842, with $1,800 back in focus if both levels fail.
Analyst says $1,900 must hold for a run at $2,000
In an Aug. 6 X post, analyst Ted Pillows wrote: "Ethereum needs to hold above this for a rally towards $2,000."
The bullish setup therefore depends on three conditions: holding $1,900, clearing leverage above $1,925 and breaking the $1,965 Fibonacci level. Failing to protect $1,856 would instead expose the $1,842 support level.
Source: crypto.news
Trading involves risk.
Risk Disclaimer
