ETH must return this key level to confirm the return of bullion

ETH is still trading in a clear trend, with the market reacting quickly to both macro and geopolitical risk. With the war in the Middle East adding extra uncertainty, Ethereum is hovering near the 1,800 area on the chart, right in a key demand area that buyers have tried to defend on several occasions.

Ethereum Price Analysis: Daily Chart

The daily structure remains bearish within the descending channel, and the price is still limited by the downtrend lines and the 100-day and 200-day moving averages. Until ETH recovers the key resistance levels of $2,400 and $2,800, the rallies look more like reliefs than true reversals.

Meanwhile, the immediate support zone is in the $1,850-$1,700 request area, and if this level declines, the next negative levels to watch are around $1,600 and the $1,400 mark, just above the lower line of the descending channel.

4-hour ETH/USDT chart

In the 4 hours, ETH behaves more like a range within the larger trend, with the price moving between the support level near 1,800 and the resistance level near the recent highs around $2,150. The last student to this level was strongly rejected, which maintains the short-term downward momentum.

A bullish reversal would require holding the $1,850 level and then retrieving the $2,150 level with a follow-up that could open a return to the $2,400 support zone. But if the $1,850 support level fails and turns into resistance on a retest, the path to the $1,600 mark and below will be cleared.

Chain analysis

The Ethereum Total Value Staked chart shows an aggressive trend while the price trend is down, which is a long-term support signal. This means that more ETH is tied up in staking, rather than remaining liquid, reducing the available supply over time. This behavior may be due to the long-term belief of investors, as they buy ETH at low prices and lock in for a long period of time.

However, this does not mean that the bottom is near guaranteed, because if the forced selling and neutralization continues, the price may fall. But if the market retraces key resistance levels as the stock moves higher, it strengthens the case for a more robust recovery in the future.