Ethereum Price Tackles Key Resistance as Buyers Regain Control

Russia's Sberbank has set its sights on launching a crypto wallet by December, but Ethereum (ETH) investors are focused on breaking past a crucial resistance level.

Ethereum has bounced back strongly after finding support near $1,550, and the token is now trading just below a key resistance zone between $1,780 and $1,800. However, the price has repeatedly tested this range but failed to break it, making it the biggest obstacle for buyers.

On-chain data suggests investors are not rushing to offload their holdings, leaving the door open for a potential breakout if buying momentum continues to build. The absence of a sharp rise in exchange reserves indicates that investors are holding onto their ETH despite the recent recovery.