Ethereum Critical Resistance| Price Action| Macro Trend

Ethereum is trading at a major resistance zone aligned with the 0.618 Fibonacci, VWAP SR, and a strong daily horizontal level. Despite the recent impulsive move, multiple daily candles have failed to close above this resistance, highlighting underlying weakness.

Key support is situated around $1,055, a high-timeframe level critical for establishing a higher low. If Ethereum fails to hold this region on a retest, it risks breaking the swing low and extending the macro downtrend of lower highs and lower lows on the daily timeframe.

At this stage, a rejection from the current resistance would likely lead to continued bearish momentum and a push toward lower support levels. Conversely, a strong support hold at $1,055 followed by a breakout above resistance would be needed to signal a potential shift in structure and early signs of strength.

Price action remains at a decisive juncture: rejection favors bearish continuation, while a higher low backed by volume could flip the trend bullish in the coming sessions.