The Ethereum (ETH) price has recently entered a sideways market after a bullish phase, and is currently forming a flag pattern while reacting to level 0.236 of the Fibonacci retracement. The flag pattern is a common technical analysis formation that signals a pause in the trend before it continues in the same direction. If the price line breaks above the flag pattern, a bullish wave could be expected, potentially pushing the price higher. However, the price’s ability to break out of the pattern will be crucial in determining whether the bullish wave will materialize. Traders and investors should keep a close eye on the ETH price as it approaches the key level and watch for any breakouts or further consolidations.

• There is a resistance level at 1778 followed by resistance at 1845 and 2000.
• There is a support level at 17000. Below, there is 1645 and 1600.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.