Ethereum Faces 1860 Resistance, Bullish Trend Hinges on Breakthrough

Ethereum (ETH) is currently facing significant selling pressure at the $1860 level, according to IntoTheBlock. This resistance level is a critical point for the cryptocurrency, as breaking through it could potentially lead to a retest of the $2000 mark. The concentration of selling pressure at $1860 suggests that there is substantial resistance at this price point, which could hinder ETH's upward momentum.

If ETH manages to surpass the $1860 resistance level, it could pave the way for a retest of the $2000 price point. This scenario would indicate a bullish trend for ETH, as it would demonstrate the cryptocurrency's ability to overcome a significant resistance level and continue its upward trajectory. However, the presence of selling pressure at $1860 poses a challenge for ETH, as it may struggle to break through this barrier and reach higher price levels.

According to the analysis, the significant selling pressure at $1860 is a key factor that could influence ETH's price movement in the near future. If ETH fails to break through this resistance level, it may experience a price correction or consolidation, as sellers look to capitalize on the current price levels. Conversely, if ETH successfully surpasses the $1860 resistance level, it could lead to a retest of the $2000 mark, indicating a bullish trend for the cryptocurrency.