Ethereum Faces Crucial Resistance Test Near $2,136

Ethereum's recent rebound has led to a crucial test of its daily chart, with the cryptocurrency currently hovering near the $2,136 mark. This area represents a key resistance zone for ETH, and market analysts are closely watching how it will respond.

According to Ted Pillows' analysis on X, Ethereum's next move could depend on whether it successfully reclaims the $2,150-$2,200 range. If it does, it could open up the possibility of a rally towards last month's low, potentially reaching levels near $2,400 or even higher.

However, if ETH fails to hold this area and gets rejected, the price could fall back towards the $1,900-$2,000 region. The chart also marks support below at around $2,000, with additional lower levels at $1,760 and $1,693, indicating that buyers may step in before the price revisits these deeper support areas.