Ethereum Holds Trendline at $1,850, Next Target $2,300

Ethereum (ETH) has staged a recovery after holding its long-term ascending trendline. The largest altcoin is currently trading at $1,923, after a modest 2.61% gain in value.

If the support level of $1,850 holds, ETH's next major target sits around $2,300. A break below this level would change the entire narrative and make the overall bullish structure suspect.

Ethereum's trend has been cleaner than BTC's throughout this cycle. However, a market approaching strong resistance with core support sitting at $1,839 is a warning sign to avoid chasing the price blindly at current levels.