According to IntoTheBlock, ETH added an impressive 12% to its market cap in the last 24 hours. On-chain data suggests only modest resistance ahead, with the largest potential sell wall near $1,860. Should this resistance level be breached, a move towards the psychological $2,000 level appears increasingly plausible. Traders should monitor the $1,860 resistance closely as it could signal a significant breakout.

According to Material Indicators, the FireCharts data reveals a significant sell wall forming resistance just below the 50-Day Moving Average, while a comparatively thin buy wall is acting as support slightly above the 100-Day Moving Average. This suggests that the price may continue to fluctuate within this narrow range, with a probable retest of the support level at the 100-Day MA occurring soon. This trading setup indicates potential short-term price volatility and provides traders with key levels to watch for potential breakout or breakdown scenarios. Source: Material Indicators.