Ethereum is Stuck at $1,850 – And It’s Not Going Anywhere Fast

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Oh, Ethereum. You’ve been flirting with $1,850 for over a week now, but you just can’t seem to commit. The drama’s real, darling, but without any real *oomph*, it’s not looking like a happy ending anytime soon. So close, yet so far!

Let’s not pretend this is just a casual “I don’t know if I should break up with my old level” situation. Ethereum has hit that pesky $1,850 barrier multiple times, only to get rejected like the last person at a party nobody remembers inviting. And the reason? A whole bunch of technical stuff is going on here, making it feel more like a trap than an opportunity.

Key technical points

  • Converging Resistance: You’ve got the VWAP SR, 0.618 Fibonacci retracement, daily supply zone, and Point of Control all conspiring to keep Ethereum locked in this prison. How sweet.
  • Volume Drought: Breakouts need volume, not just hopes and dreams. And right now, Ethereum’s volume is like a desert – barren and lifeless.
  • Channel Context: Ethereum’s stuck in its long-term price channel, like that person who’s afraid to leave their comfort zone. Go on, do something exciting for once!

Detailed analysis

Let’s talk about that VWAP SR. It’s like a flip-flopping ex who can’t decide if they want to be your friend or your enemy. As Ethereum gets closer to $1,850, this once-supportive VWAP has now decided it wants to be resistance. Thanks a lot, buddy.

And then, of course, we have the 0.618 Fibonacci retracement just chilling on top of the VWAP, reinforcing this whole “I’m not going anywhere” vibe. Think of it like a bad roommate who’s overstayed their welcome, right when you thought the coast was clear.

As if that wasn’t enough, there’s also a daily supply zone where sellers had a field day, making sure any buying pressure was quickly smothered. And the Point of Control (POC)? Oh, that’s where most of the action’s happening, and guess what? Sellers are *totally* winning. Sorry, buyers – maybe next time.

The thing is, these attempts to break through are… let’s just say, underwhelming. We need volume to make things interesting, but ETH’s rallies are so small it’s like they’re barely even trying. If you’re not making waves with your price, then what’s the point?

What to expect in the coming price action

So, here’s the deal: as long as Ethereum’s still hanging below $1,850, the path of least resistance is, well, down. It might dip back toward the lower boundary of its channel or, if we’re unlucky, dive towards more significant support levels like $1,700 or even the 200-day moving average. Be careful out there, folks!

But, hey, if Ethereum pulls a miracle and decides to break through, we’ll need to see a close above $1,850 with some heavy volume behind it. Only then can we start talking about $1,950 or even $2,000. Until that happens, keep your expectations low, and your risk management even lower.

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2025-05-05 21:32