Ethereum eyes $1,100 support as price rebounds toward $1,800

Ethereum (ETH) is trading near $1,570‑$1,623 and is closely watching the $1,100 level, a long‑term support zone identified by analysts. Chart analysis cites a potential Elliott Wave‑3 rally if the current corrective wave completes, with the next upside target around $2,000 and higher resistance near $2,900.

The cryptocurrency posted a roughly 10% weekly rebound, climbing back to the $1,750 region. Technical indicators showed a fresh TD Sequential buy signal, a pattern that preceded past strong advances. On‑chain data recorded a massive outflow of more than 166,000 ETH from Binance, the largest daily withdrawal since March 2023, suggesting accumulation into cold storage. Meanwhile, U.S. spot Ethereum ETFs have seen net redemptions of about $358 million since mid‑June, indicating lingering institutional caution.

Analysts note that a decisive break above $1,800 would validate the rally and could trigger a short squeeze, while a fall back through $1,500 would undermine the recovery. The overall market context remains bearish, with ETH trading roughly 67% below its 2025 peak.