Ethereum Finds Major Support, But Resistance Still DominatesEthereum / TetherUSBINANCE:ETHUSDTDukesMarketAnalysisMulti-Month Support Steps In • Ethereum once again found buyers around the $1,550 support zone. • This area has repeatedly attracted demand over the past few years and remains an important line in the sand for the bulls. A Bounce Was Needed • The reaction from support has prevented a deeper breakdown in the short term. • However, the recovery remains relatively modest compared to the size of the previous sell-off. The EMA Structure Remains Bearish • The 21/8-week EMAs remain bearishly crossed and both averages continue to point lower. • Historically, reclaiming these averages is often one of the first steps towards rebuilding a bullish trend. Initial Resistance Is Now Being Tested • Ethereum is attempting to reclaim the $1,800 area, which has previously acted as both support and resistance. • Holding above this zone would be an encouraging development for the bulls. Bigger Obstacles Sit Overhead • Beyond $1,800, the next major hurdles remain around $2,200 and the recent swing high at $2,464. • Until those levels are recovered, rallies are likely to face continued selling pressure. Momentum Remains Fragile • RSI has stabilised above oversold territory following the recent bounce. • StochRSI continues to drift lower, suggesting momentum has yet to fully recover from the recent weakness. In Summary Ethereum has produced a respectable bounce from the major multi-month support zone around $1,550, preventing what could have become a much larger decline. While that is an encouraging sign, the broader technical picture remains challenging. Price continues to trade below the bearishly crossed 21/8-week EMAs, with significant resistance waiting at $1,800, $2,200 and $2,464. The support has held for now, but bulls still have considerable work to do before the chart begins to look constructive again.