12-Hour Analysis:
Big Picture: Over the weekend, Ethereum remained range-bound, with minimal price activity. Overall, bulls have maintained their strength, whereas they have been limited twice at the level of 1850, preventing the transition from bullish to strongly bullish for the time being. Acceptance of a price over 1880 could present a red carpet invitation for bulls.
On the Upside the immediate barrier for Ethereum is at the 1830 level. Above this level, the next degree of resistance is at 1850, followed by 1880. Ethereum might drive a significant breakthrough over the 1880 level. The 1880 level occupies horizontal and trendline-based resistances, a strong display of strength over this zone would propel Ethereum towards the next psychological level of 2000.
On the Downside between 1810 and 1800, there is some fresh support. However, below these supports, the next supporting zone is between 1760 and 1745, which maintained its grip and countered any weakness below it during the weekend. Both these sets of supports provide substantial support for the session. As long as these supports hold, Ethereum is unlikely to channel lower.
