ETHEREUM recently wore the level of decisive support of $ 1.5,000, but is still struggling to penetrate the declining demand block near the $ 1.8,000 sign. If you fail to scan this resistance, another decline can follow.
Technical analysis
By shayanmarkets
Daily chart
The price created a clear upper reflection pattern at the support level of 1.5 thousand dollars, and quickly heading towards the mass of requests at the mark of $ 1.8 thousand. Meanwhile, if the market suffers from a rejection of the demand block, then the upright value gap in the bottom of the price can provide subsidies and pay the asset up.
With MA receipt for 100 days around the level of $ 2.2 thousand, this region is a potential ups in ETH on the daily time frame. 
The graph for 4 hours
In the time frame for 4 hours, ETH created a clear shift in the upscale market structure, where the concession canal was broken to the upward trend. The rush march took the price from about 1.5 thousand dollars to the level of $ 1.8,000 in just a few days.
The resistance area, which is valued at $ 1.8,000, is a decisive area, as it has previously provided support for the market several times during the past few months. Therefore, the upward collapse above this area can be the beginning of another ascension.
ONChain Analysis
Cryptoquant’s open attention chart provides a valuable look at the morale of the current derivative market surrounding ETH.
During the last two sessions, the open interest of Ethereum showed a strong correlation with price trends, steadily increased during the ups and a sharp decrease during corrections.
In recent weeks, slight recovery is visible. The assets flourished to $ 1.8,000, and the open interest is oscillating again towards the level of 12 billion dollars. This increased open interest during price recovery signals is renewed in speculative sites, and perhaps the outbreak or continuous relief is expected.
However, given the previous patterns, this also raises the risk of fluctuating flow if the prices stop or reflect sharply again. Therefore, risk management will remain decisive in the coming weeks.
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