The post Holding Above $1,772 Support Level as Analysts Watch for Next Move appeared on BitcoinEthereumNews.com.

TLDR Ethereum price is trading around $1,830, sitting above crucial support at $1,772-$1,824 ETH failed to end April in profit, marking its fourth consecutive month with negative performance On-chain data shows 6.36 million ETH purchased by 4.5 million addresses at an average price of $1,799 If support at $1,772 breaks, ETH could fall to $1,500, but holding this level could see price rise to $2,100 Technical indicators show ETH facing resistance at $1,835 with support levels at $1,785 and $1,765 The Ethereum price is currently trading around $1,830, showing a slight increase of about 1% in the past 24 hours. This comes after a month where ETH closed above $1,800 but still failed to end April in profit, making it the fourth consecutive month with negative performance for the second-largest cryptocurrency. According to on-chain data shared by crypto analyst Ali Martinez on May 3, Ethereum is sitting above a crucial support level that could determine its price trajectory in the coming weeks. The data reveals that more than 6.36 million ETH tokens were purchased by 4.5 million addresses within the price range of $1,772 and $1,824, at an average price of $1,799. The most critical support level for #Ethereum $ETH is at $1,770, according to on-chain data from @intotheblock! pic.twitter.com/PtEBRaRlWT — Ali (@ali_charts) May 3, 2025 This high buying activity has created a major support level just below the current price. If this level holds, it could prevent further price drops in the short term. The support level strength is based on cost-basis analysis, which determines a price level’s capacity to serve as support based on the volume of coins acquired by investors in that region. In this case, the large number of ETH tokens bought around the $1,799 price point suggests many investors have a vested interest in defending…

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Filed under: News - @ May 5, 2025 12:25 pm