Ethereum Consolidates Above $1,620, Eyes $1,680 Breakout

Ethereum has shown signs of strength after reclaiming the $1,620 level and stabilizing above a key trend line. The current price consolidation suggests that bulls are preparing for a renewed push above $1,680, with technical indicators supporting the case for another leg higher, provided resistance levels give way.

This week, Ethereum started with a solid upward move, reclaiming the $1,600 and $1,620 resistance zones. The price increased past $1,650 before facing rejection at $1,690. After that, ETH corrected slightly lower but found firm support around $1,620, where buyers stepped in to defend the trend.

Currently, Ethereum price consolidation is taking place above the 100-hourly Simple Moving Average and seems to be forming a new ascending trend line on the hourly chart. The $1,625 level now acts as a springboard for a potential breakout, with immediate resistance seen at $1,660. A decisive close above $1,680 could trigger the next bullish wave.

The hourly MACD is starting to lose a bit of strength, but it’s still showing a positive trend. Meanwhile, the RSI is above 50, which means buyers are still in control for now. The next targets that people are looking up to are $1,750 and $1,800, but that is only if Ethereum can break above the $1,690 resistance level. And if it moves past $1,750, there’s a good chance it could climb toward $1,880 soon. Experts say this current pause in price is a good sign—it’s a healthy break after ETH bounced back strongly from the $1,520 level. This setup also matches the improving mood in the overall crypto market this week.

Ethereum has a good chance to break out and move higher, but there are still some risks. If it can’t move above the $1,660–$1,680 resistance zone, the price might start falling again. Right now, the first support level is at $1,620. If that breaks, there’s stronger support at $1,610, which lines up with a key retracement level from its recent move between $1,562 and $1,690. If Ethereum drops below $1,610, the next support is at $1,575. If that also fails, the price could slide down to $1,550 or even $1,500. Traders are keeping a close eye on these levels. If Ethereum doesn’t hold above them, it could mean a deeper drop is coming, especially with the current global uncertainty and people possibly cashing in profits.

With Ethereum price consolidation holding above key technical supports, the bulls may soon get their chance to push ETH past $1,680 and possibly retest the $1,750 resistance zone. Momentum remains cautiously optimistic as indicators flash signs of strength. As long as ETH maintains its structure above $1,610, the bias remains bullish, and breakout traders are likely to take interest in any confirmed move above $1,690. Ethereum appears to be gearing up for its next significant move, and the crypto market is watching.