Ethereum (ETH) Price Analysis
Ethereum is trading between $1,500 and $1,700 as it consolidates ahead of the upcoming Shanghai upgrade. Technical analysis shows key support at $1,550 and resistance at $1,620.
Fundamentally, regulation concerns and uncertainty around the Shanghai upgrade timeline are contributing to the sideways price action. However, on-chain data remains strong, with over $5 million in daily transaction fees.
Ethereum remains in an accumulation phase but continues to see strong network growth and activity. The Shanghai upgrade will be the next major catalyst. Upside price potential exists, with resistance at $1,680, but volatility is expected in the short-term. Key support is at $1,500.
