Ethereum is hovering around $1,765 this Tuesday, but one analyst is warning that the real action may be lower. In a TradingView post titled 'ETHUSD: The Road To Demand,' analyst Champ_of_Gold identified a supply zone between roughly $1,732.4 and $1,761.9, from which ETH has already reacted. The immediate level to watch is $1,718.5 — described as an equilibrium point — with a deeper demand target projected around $1,562.7 down to the $1,500 psychological zone.
What the supply zone tells us
Champ_of_Gold's analysis pinpoints the $1,732–$1,762 area as a region where sellers have previously stepped in. With ETH currently near the top of that range, the reaction suggests resistance is holding. The analyst notes that the key immediate level is $1,718.5, which is acting as a kind of balance point between buying and selling pressure.
The bearish trigger
If Ethereum breaks cleanly below $1,718.5, the door opens for a liquidity sweep lower toward the demand zone near $1,562.7 and eventually the $1,500 round number. That's a drop of roughly 13% from current prices. The setup doesn't get invalidated unless ETH reclaims and holds above the supply-zone high — above approximately $1,761.9.
What this means for traders
The analysis is straightforward: watch $1,718.5. A breakdown there would likely accelerate selling, while a bounce could keep ETH range-bound for now. The demand zone around $1,500–$1,562 is where the analyst sees a potential buying opportunity, but only if price actually gets there. For now, the market is testing the upper end of the supply zone, and the next few sessions will determine whether the bears take control.
The timing isn't great for bulls. Ethereum has already lost ground this month, and a failure to hold $1,718 would add to the bearish narrative. No official comments from the Ethereum Foundation or major exchanges have been made on the analysis.
