The Meme coins buy onlinesecond-largest cryptocurrency shows promising technical formations after establishing solid footing above key support levels.

• ETH/USD maintains position above crucial moving averages and trendline support

• Market structure shows higher lows formation since $1,520 base

• Volume profile indicates accumulation between $1,620-$1,650 range

• Key Fibonacci levels suggest potential continuation patterns

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Technical Landscape Reveals Bullish Potential

The digital asset market witnessed Ethereum building substantial support near the $1,520 psychological level before initiating its recent ascent. This upward movement gained traction after consecutive closes above the $1,580 and $1,600 benchmarks, establishing these levels as new support zones.

Following the breakout, ETH encountered resistance near the $1,690 region, creating a local top before entering its current consolidation phase. The pullback found reliable support at the 50% retracement level of the recent swing from $1,562 to $1,690, demonstrating healthy market behavior.

Current price action reveals three critical technical elements: First, the 100-hour moving average continues to provide dynamic support. Second, a newly formed ascending trendline connects recent higher lows. Third, the Relative Strength Index maintains its position above the neutral 50 level, indicating preserved bullish momentum.

Market participants should monitor the $1,660-$1,680 resistance cluster closely. A decisive break above this zone could potentially open the path toward the $1,750 psychological barrier, with extended targets near the $1,800-$1,880 range coming into focus.

Alternative Scenario: Support Levels to Watch

Should the current consolidation resolve downward, several support levels merit attention. The immediate floor rests at $1,620, followed by the critical $1,610 zone which coincides with the 61.8% Fibonacci retracement level. This area represents a make-or-break point for the current bullish structure.

Further downside could test the $1,575 and $1,550 support clusters, which previously served as accumulation zones during the recent uptrend. The $1,500 psychological level remains the ultimate support to watch in any extended correction scenario.

Technical Indicators

Momentum Analysis - The MACD histogram shows decreasing bullish momentum but remains in positive territory.

Volume Analysis - Recent pullbacks have occurred on relatively lower volume compared to upward moves.

Key Support Zone - $1,610-$1,620

Critical Resistance Area - $1,660-$1,680