Ethereum is testing a major support area that has historically marked cycle bottoms, according to crypto analyst Kamran Asghar. The analyst says ETH is sitting inside a long-term accumulation zone where previous market corrections ended and strong recoveries began, with the asset trading near $1,736 while retesting an ascending trendline. CRYPTOWZRD says reclaiming $1,750 could open the door to further upside, while a break below $1,670 support would shift momentum back to sellers. The analysis comes as short-term traders wait for a clean breakout signal amid weak market sentiment reflected in subdued RSI levels.
Kamran Asghar Identifies Ethereum Macro Support Zone at Historical Accumulation Floor
Kamran Asghar says Ethereum is testing a major support area that has repeatedly marked cycle bottoms. The analyst says ETH is once again sitting inside a long-term accumulation zone where previous market corrections ended and strong recoveries began.
The weekly chart shows Ethereum trading near $1,736 while retesting an ascending trendline that has supported price through multiple market cycles. The highlighted accumulation zone has historically acted as a floor during major corrections, with several previous rebounds beginning from the same area.
According to Asghar, Ethereum's current structure closely resembles earlier cycle lows. The chart also shows the Relative Strength Index near historically subdued levels, suggesting market sentiment remains weak despite ETH holding above long-term support.
The analyst argues that maintaining this support zone could set the stage for another bullish reversal, similar to previous recoveries that followed extended consolidation periods. However, a breakdown below the trendline and accumulation range would weaken the bullish case and increase the risk of a deeper decline.
Traders are watching whether Ethereum can defend this key macro support area or if sellers force a move below a level that has historically marked important turning points.
CRYPTOWZRD Analyzes Ethereum Short-Term Resistance and Support Levels
CRYPTOWZRD says Ethereum is holding above a key support zone but has yet to show enough strength to confirm a larger recovery. The analyst says the next meaningful move will likely depend on whether ETH can reclaim resistance near $1,750 or lose support around $1,670.
The daily chart shows Ethereum trading around $1,730 after rebounding from lows near $1,500 earlier this month. Price remains below a descending trendline that has capped rallies since April, while several horizontal resistance levels continue to limit upside momentum.
According to CRYPTOWZRD, holding above the $1,750 area would improve the short-term outlook and could open the door to a move toward higher resistance levels near $1,800 and $2,200. However, the analyst noted that ETH is still closely following Bitcoin's price action and has not yet produced a decisive breakout signal.
On the downside, the $1,670 level remains the key support to watch. A break below that area could shift momentum back in favor of sellers and increase the risk of another test of lower support zones.
Ethereum remains trapped between support and resistance, with traders waiting for a clearer directional move before committing to new positions.
FAQ
What support level is Ethereum currently testing according to Kamran Asghar?
Kamran Asghar says Ethereum is testing a major support area near $1,736 that has repeatedly marked cycle bottoms. The analyst identifies this as a long-term accumulation zone where previous market corrections ended and strong recoveries began, with ETH retesting an ascending trendline that has supported price through multiple market cycles.
What key price levels does CRYPTOWZRD identify for Ethereum's next move?
CRYPTOWZRD says the next meaningful move will likely depend on whether ETH can reclaim resistance near $1,750 or lose support around $1,670. The analyst noted that holding above $1,750 would improve the short-term outlook and could open the door to a move toward higher resistance levels near $1,800 and $2,200, while a break below $1,670 could shift momentum back to sellers.
Why does Kamran Asghar say Ethereum's current structure is significant?
Kamran Asghar argues that Ethereum's current structure closely resembles earlier cycle lows, with the asset sitting inside a long-term accumulation zone that has historically acted as a floor during major corrections. The analyst says the Relative Strength Index is near historically subdued levels, suggesting market sentiment remains weak despite ETH holding above long-term support.
