Can Ethereum target $1,810 next? – THIS level holds the key

• ETH has gained 2.39% over the past 24 hours.
• Ethereum’s demand side is strengthening, positioning the altcoin for sustained gains.

Since the market recovered from the tariffs crash, Ethereum [ETH] has traded in an ascending pattern. In fact, as of this writing, Ethereum was trading at $1610.

This marked a 2.36% increase on daily charts.

Before these gains, the altcoin had been on a downward trajectory, dropping on weekly and monthly charts by 10.99% and 14.79%, respectively.

With the recent gains, stakeholders are eyeing a more sustained uptrend. Popular crypto analyst, Ali Martinez, has suggested a potential rally to $1,810.

In his analysis, Martinez posited that since ETH has reclaimed its key support level of $1574, the altcoin could rally if the demand zone holds. Thus, a hold above this rally will see the altcoin reclaim the $1,810 resistance level.

The question is, can Ethereum make sustained gains to reclaim a higher resistance level?

Can Ethereum see a sustained uptrend?

According to AMBCrypto’s analysis, Ethereum is seeing a recovery on its demand side.

For starters, Ethereum’s Exchange Netflow has turned negative after two consecutive days of positive flows. A shift into negative suggests that investors have turned to accumulating Ethereum.

As such, there are more exchange outflows than inflows, reflecting a rising demand.

Positive order imbalance further validates this aspect. With a positive order imbalance, it shows that there are more buy orders executed than sell ones.

This suggests that buyers are active in the market, resulting in more exchange outflows.

The rising demand is even more prevalent among whales. As such, Ethereum large holders are making fewer transfers into exchanges.

Looking at large holders’ netflow to exchange netflow ratio, whales’ flow to exchange ratio has dropped from 23.9% to 2.92%.

This drop suggests that whales are buying more than they are selling.

With whales and retailers buying, it seems they are buying the altcoin and taking long positions. We can see this as Ethereum’s Aggregated Funding Rate has turned positive, reflecting a higher demand for long positions.

Thus, most investors are expecting prices to rise even further.

Simply put, Ethereum is seeing a surge in demand. Historically, a higher demand results in higher prices. With ETH getting more buyers than sellers, we could see the altcoin reclaim $1758.

If it rises to this level, we could see a move towards $1800. Conversely, if the attempt by bulls fails, we could see a correction with ETH retracing to $1465.