Ethereum's price climbed over 13% in the past month, but analyst Ali Martinez highlights a key level for the altcoin to push past $2,000. According to his latest update on X from July 24, ETH must maintain support at $1,850 to sustain its upward momentum.
Key Support Level in Focus
Martinez tracks Ethereum's movement in a rising channel on the 1-hour chart, where the lower boundary has become a decisive support line. If ETH stays above $1,850, the channel’s upper boundary near $2,060 becomes a realistic target. This implies a roughly 10% gain from ETH's last price around $1,882, which dipped 2.3% on the day with $10.19 billion in trading volume over 24 hours.
The analyst points to a resistance level at $1,900 that ETH must overcome on the way up. July’s price action has shown a pattern of higher highs and higher lows, reinforcing this bullish outlook. However, if Ethereum falls below the established channel, the forecasted rally will likely fail.
