Ethereum May Reclaim $2,060 if $1,850 Support Holds

Ethereum rebounded after testing the lower boundary of its price channel, with the $1,850 support level seen as critical for further gains.

On July 24, on-chain analyst Ali Martinez wrote on X that Ethereum had bounced after testing the bottom of the channel.

If support at $1,850 continues to hold, Ethereum could move back toward the top of the channel near $2,060, he added.

Ethereum was trading around $1,897.82. In the near term, defending the $1,850 level is the key test for whether the rebound can continue.

Meanwhile, with Bitcoin holding relatively steady near $65,000, the market is watching whether Ethereum can preserve its key support and help revive sentiment toward altcoins.