Ethereum is testing the $1,796–$1,816 resistance zone, which aligns with the 0.8 MVRV Pricing Band and the TD Sequential resistance trendline. According to Ali Charts, a daily close above $1,796 followed by a successful retest as support would strengthen the bullish case. The setup reflects a tight resistance cluster rather than a single level, with the next target at $1,844 and a broader upside objective at Ethereum's Realized Price of $2,245. The test occurs within a broader recovery structure that remains intact if buyers defend the $1,742–$1,672 support zone.
Ethereum Tests $1,796–$1,816 Resistance Cluster
Ethereum is pressing into the 0.8 MVRV Pricing Band near $1,796, which now stands out as the first major resistance level on the chart. According to Ali Charts, a daily close above that level, followed by a successful retest as support, would strengthen the bullish case.
That area matters because it lines up with more than one technical signal. Ali Charts stated the TD Sequential resistance trendline also sits around $1,796, while the TD risk line is slightly higher at $1,816. In other words, Ethereum is pressing into a tight resistance cluster rather than a single level.
If buyers clear both $1,796 and $1,816, the next level to watch is the top of the channel near $1,844. A breakout there would increase the odds of a larger push toward Ethereum's Realized Price at $2,245, which is the main upside target in this setup.
The broader MVRV bands on the chart also show how important this zone is. The 0.8 band sits just above current price action, while the Realized Price near $2,245 marks the next major level if momentum improves.
Higher MVRV bands sit much further above, with the 2.4 band near $5,389 and the 3.2 band near $7,186. Those levels are not immediate targets, but they show where Ethereum could trade if a much stronger cycle expansion develops later.
Wave 4 Pullback Holds Above $1,742–$1,672 Support Zone
Ethereum is moving through an expected wave 4 pullback, but the broader recovery structure remains intact for now. According to More Crypto Online, this move fits the expected wave 4 correction inside the larger recovery setup. In Elliott Wave analysis, wave 4 is often a cooling phase before a possible final push higher.
The first support levels to watch sit near $1,742, $1,703, and $1,672. These are marked as retracement levels on the chart and could decide whether the bullish structure stays valid.
If ETH holds this zone, the next upside move could target the higher resistance area between roughly $1,870 and $2,040. That zone includes the projected wave 5 area and broader overhead resistance.
However, the setup still needs buyers to defend the pullback. A clean break below the retracement zone would weaken the July recovery case and suggest the correction may need more time.
For now, the pullback looks controlled. Holding support would keep the bullish wave count alive, while losing it would put Ethereum's short-term recovery back at risk. A recovery back above $1,800 would be the first sign that buyers are ready to challenge higher resistance again.
FAQ
What resistance level is Ethereum testing right now?
Ethereum is testing the $1,796–$1,816 resistance zone, which aligns with the 0.8 MVRV Pricing Band and the TD Sequential resistance trendline. According to Ali Charts, a daily close above $1,796 followed by a successful retest as support would strengthen the bullish case.
What support levels are important for Ethereum's July recovery?
The key support levels sit near $1,742, $1,703, and $1,672. According to More Crypto Online, these retracement levels could decide whether the bullish Elliott Wave structure stays valid. Holding this zone would keep the broader recovery setup intact.
