The short-term chart shows ETH price holding around $1,850 after recovering from a recent dip below $1,830. While whale accumulation and the broader retest structure support the bullish case, heavy sell orders above the current price continue to restrict momentum. According to Brave New Coin data, Ethereum is trading near $1,854.32, up approximately 0.22% over the past 24 hours.
Ethereum (ETH) is trading at around $1,854, up 0.22% in the last 24 hours. Source: Brave New Coin
Triangle Pattern Puts $1,935 Target Into Focus
Ethereum’s price is compressing within a short-term symmetrical triangle after several attempts to break above the descending resistance.
Elja highlighted the developing pattern, with ETH trading close to the upper boundary near $1,865-$1,875. The chart suggests that a confirmed breakout could project a move towards approximately $1,935.
A chart shows Ethereum compressing inside a symmetrical triangle, with a bullish breakout target near $1,935. Source: Elja via X
Price has already formed several higher reactions from the rising lower boundary, but buyers have not yet secured a convincing breakout. ETH price must close above the descending trendline and hold the breakout before the projected target becomes technically active.
Failure to clear resistance could keep Ethereum trapped inside the pattern, with support remaining around $1,840-$1,850.
Buyers Continue Defending the $1,840-$1,850 Demand Zone
The latest short-term structure shows Ethereum repeatedly reacting from a demand area between approximately $1,839 and $1,850. A chart shared by Scient projects continued consolidation around this zone before a possible recovery towards the previous range high near $1,885. The level has already attracted buyers following the recent sweep below $1,830, making it the main support for the current recovery setup.
A short-term Ethereum chart shows price holding above the $1,839-$1,850 demand zone, with a projected recovery towards $1,885. Source: Scient via X
Maintaining this area would allow ETH to challenge $1,870 and then the $1,885 resistance. A breakout above $1,885 would strengthen the triangle setup and shift attention towards $1,900 and $1,935. A sustained move below $1,839 would weaken the recovery structure and expose the recent low around $1,825-$1,830.
Smart Money Purchase Supports Accumulation Narrative
Large-wallet activity is adding support to the bullish side of the Ethereum price prediction. Famous crypto analyst Ted Pillows reported that a whale purchased approximately $35.37 million worth of ETH. The transaction was presented as accumulation, suggesting that a large market participant is building exposure while Ethereum continues trading near support.
A transaction record shows approximately $35.37 million in ETH moving from a Gemini hot wallet to a whale address. Source: Ted Pillows via X
Whale buying does not guarantee an immediate price increase, particularly while ETH price remains below resistance. However, continued accumulation around the current range could help absorb available supply and strengthen the market if momentum returns.
Sell Walls Continue Blocking Ethereum Recovery
Despite the recent whale purchase, Ethereum still faces considerable overhead supply. CW8900 highlighted that large sell orders remain positioned above the current market price. The liquidity map shows multiple areas of resistance between approximately $1,880 and $1,950, with an even larger concentration of sell-side liquidity above $2,000.
An order-book chart shows large Ethereum sell walls positioned above the current price, limiting the recovery. Source: CW8900 via X
This explains why ETH has struggled to extend its bounce despite repeatedly defending support. Buyers need enough spot demand to absorb these orders before the market can produce a sustained breakout. The first important test sits around $1,885-$1,900. Beyond that, the $1,930-$1,950 region remains another major supply zone.
Weekly Channel Retest Keeps Broader Recovery Setup Alive
Ethereum’s higher-timeframe chart remains inside a broad descending channel, with price currently retesting the upper trendline after recently moving through it.
The chart shared by Crypto Thro suggests that ETH price is attempting to turn the former channel resistance into support. Holding this retest could indicate that the longer-term downtrend is weakening and provide a stronger foundation for the next recovery phase.
A successful weekly hold above the trendline would improve the broader structure and support further upside towards $2,000. However, rejection back inside the channel would leave Ethereum exposed to another period of consolidation or renewed downside pressure.
A weekly Ethereum chart shows ETH retesting the upper boundary of a descending channel following a potential breakout. Source: Crypto Thro via X
Key Ethereum Support and Resistance Levels
Ethereum is trading between a well-defined demand zone below and several layers of resistance above. The first support remains around $1,850, followed by the broader $1,839-$1,830 region. Losing this area would expose $1,800 and weaken the short-term recovery scenario.
Immediate resistance sits around $1,870-$1,885. A confirmed breakout above $1,885 could open a move towards $1,900, followed by the triangle target near $1,935. The larger technical hurdle remains around $1,950-$2,000, where heavier sell orders could slow the recovery.
Final Thoughts: Can Ethereum Break Towards $1,935?
Ethereum price continues to defend the $1,840-$1,850 demand zone while price compresses beneath short-term resistance. Whale accumulation and the weekly channel retest support another recovery attempt, but buyers still need to overcome the sell walls above $1,885.
A confirmed breakout from the triangle could send ETH towards $1,935, followed by $1,950-$2,000. However, losing $1,839 would invalidate the immediate bullish setup and increase the risk of another move towards $1,830 or $1,800.
