Ethereum (ETH) has reclaimed $1,800 after rebounding from June lows, but resistance near $2,000 and $2,200 will decide whether the recovery can continue.
Key Points:
- ETH has recovered from the $1,500 demand zone and reclaimed $1,800.
- Resistance near $2,000 and $2,200 remains the main obstacle.
- Exchange reserves have fallen to about 15.3 million ETH.
Ethereum Resistance
ETH had recovered from the $1,500 demand zone and moved back above $1,800. The daily chart still places the token inside a broad descending channel, with its upper boundary and 100-day moving average converging near $2,000.
That area has already drawn selling pressure. A sustained break above the channel could shift attention to the $2,000-$2,200 band, where the 200-day moving average creates another barrier. Clearing $2,200 would mark a more meaningful change in market structure and leave room for a wider recovery.
The four-hour chart shows a stronger near-term setup, including a double bottom near $1,500 and an ascending channel built through higher highs and higher lows. ETH reached about $1,950 before sellers rejected the move, making $1,800 the key level for judging whether the retreat is profit-taking or a deeper reversal.
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Shayan Markets Outlook
Shayan Markets said holding $1,800 would preserve the bullish short-term structure and support another attempt at the resistance cluster above $2,000. A decisive loss of that support would expose $1,720 first, followed by the $1,620-$1,640 order block where buyers previously returned.
Exchange data provides a constructive backdrop. Centralized trading platforms now hold about 15.3 million ETH, the analysis said, near the lowest level recorded in recent years.
Falling reserves often indicate movement into self-custody or longer-term storage, reducing immediately available supply, although the measure does not guarantee a price increase.
The next move therefore depends on both price confirmation and continued supply reduction. Ethereum has already climbed from around $1,500 in June to roughly $1,950, then pulled back beneath the upper edge of its ascending channel.
That sequence shows how quickly ETH has recovered, but it also leaves the token below the moving averages that have repeatedly limited rallies.
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