1 day ago
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That shelf has carried weight since July 15, with repeated trading around the same area building a well-established supply zone. ETH has now reached it, and today’s daily close will decide whether the rebound counts as a successful retest.
Key Takeaways
- Price reached the expected horizontal resistance identified in our previous Ethereum analysis.
- The harder test sits near $1,950.
- Ethereum wallets have crossed 200 million.
- Central-bank decisions could disrupt the setup.
The Retest Depends on Today’s Close
For the setup to improve, Ethereum needs to finish the session above both the horizontal shelf and the Fibonacci level beneath it.
Closing above the shelf would show buyers absorbing the supply built there since mid-July, and would confirm Tuesday’s defence of $1,870 as something more durable than a short-lived reaction.
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