Alicharts: Ethereum Needs Daily Close Above $1,796 to Strengthen Bullish Case

Ethereum is testing resistance at the $1,796 level, which crypto analyst alicharts describes as the 0.8 MVRV pricing band. According to ChainCatcher, the analyst said a daily close above $1,796 that then holds as support would reinforce the bullish setup and could open a move toward Ethereum’s “realized price” level of $2,245. Alicharts added that clearing both $1,796 and $1,816 would constitute a bullish breakout signal. From a technical perspective, the analyst said such a move would increase the likelihood of ETH breaking above the channel top near $1,844 and beginning an advance toward $2,245.