Ethereum Price Eyes $2,045 As Recovery Tests Major Resistance

By Bena Ilyas | Edited By Ammar Raza,July 11, 2026, 5:59 PM

Ethereum price continues after an upward correction from recent declines, although now the price is approaching a critical technical level where its further direction will be determined. While there is positive buying pressure in the short term, it remains to be seen whether ETH will break out higher or correct further.

At the time of writing, ETH is trading at $1,799.52, with a 24-hour trading volume of $13.50 billion and a market capitalization of $217.18 billion. The asset has gained 0.99% over the last 24 hours, according to CoinMarketCap data.

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Ethereum Price Tests Major Resistance

On July 11, 2026, a crypto analyst, More Crypto Online, pointed out that the Ethereum price is still within the confines of a large corrective pattern even with its recent climb from the June lows.

In the opinion of More Crypto Online, this latest upturn still represents the continuation of the Elliott Wave correction pattern, not the start of a new bull market cycle. In this case, the first downwave can have already finished forming, and the current upturn may be a wave-two rally, followed by another downtrend formation in July/August.

As long as the Ethereum price stays below the key resistance area, the overall technical picture will still point towards further declines. On the other hand, any break above the resistance lines will likely boost the probability of a bigger rally.

Ethereum Price Builds Momentum

Some of the price levels that the analysis indicates are worth watching in the next few weeks have been pinpointed.

Amongst these are resistance levels around $1,815, $1,926, $2,045, and $2,226. A breach of these levels would spell trouble for the bearish sentiment prevailing at the moment.

Negative aspects are that there are significant levels of support at $1,550, $1,400, $1,060, and $900. In case of renewed sell-off, these are the levels from where buying interest can arise.

While the recent move has helped improve sentiment, More Crypto Online said that the current move remains one of a three-wave correction rather than a five-wave formation, which would suggest an uptrend is in place.

Technical Indicators Support the Short-Term Outlook

In the short term, the indicators have continued to confirm that the buyers are in control.

The price of Ethereum is currently above the mid-Bollinger band at $1,687.45, indicating that the buying pressure has stayed. In case of further recovery, the upper Bollinger band at $1,865.98 will be the key resistance point for the cryptocurrency.

MACD indicates an increase in bull strength too because the MACD line value of 9.99566 is higher than that of the signal line, which is at -12.57129. Additionally, the histogram value of 22.56694 still stays positive, which suggests an improvement in buying power. Therefore, until this scenario stays in place, Ethereum can move up.

What Comes Next for ETH Price?

The coming trading periods will be critical in defining where the price of Ethereum is headed.

In case the bulls can make Ethereum’s price breach above $1,815 and stay above this level, then focus could soon turn to the strong resistance levels at $1,926 and $2,045.

In case Ethereum fails to break the resistance level, there are expectations that focus on the $1,550 level, which will determine the further continuation of the rally or the resumption of the larger correction phase.

Currently, there is some positive momentum for the Ethereum price in the short term, and it will be determined by whether the buyers will be able to break the resistance levels.

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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.