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**Ethereum (ETH) Price Prediction & Analysis: Battle at $1,800 — Recovery or Deeper Correction Ahead?**
The crypto market is in a state of flux, with Ethereum’s (ETH) price currently trading around $1,809 after dipping below the crucial support level of $1,800. This development has raised concerns among investors and traders alike, leading to speculation about the potential outcomes.
Firstly, it’s essential to acknowledge that the recent decline was largely driven by short-term selling pressure. Despite this, some analysts remain optimistic, highlighting the possibility of a bounce if Ethereum can hold above the $1,800 mark.
Crypto analyst Jonathan Carter has drawn attention to an intriguing descending triangle pattern on the 4-hour chart. According to his analysis, should Ethereum reject this level and experience a bounce, it could potentially drive prices towards the resistance levels at $1,950 and $2,080.
If this were to occur, more ambitious targets of $2,230 and $2,320 would be within reach, marking a reversal of the recent downtrend. This scenario would require Ethereum’s price to break above critical barriers and maintain its momentum.
However, there are also significant concerns regarding further declines if the support levels at $1,780, followed by $1,765 and $1,720, fail to hold. In this eventuality, we could see a correction phase extended down to the lower boundary of the falling channel pattern near $1,500.
To regain control, Ethereum must first overcome multiple resistance hurdles. Clearing the $1,820 and $1,880 levels would be essential for a recovery. Additional barriers await at $1,920 and $2,000, with a successful breach of these thresholds opening the door to more substantial gains in the near term.
In conclusion, the battle at $1,800 will determine the direction Ethereum takes next. Will we see a recovery or a deeper correction? The answer lies in the market’s reaction to this crucial support level.
Source: https://coincentral.com/ethereum-eth-price-prediction-analysis-battle-at-1800-recovery-or-deeper-correction-ahead/
