Ethereum has been struggling to break through its 100-day moving average at $1772, and its recent price action has failed to indicate a clear direction, leaving the market uncertain. The cryptocurrency faces two critical support levels at $1772 and $1.7K, and a break of the latter could trigger a cascade as long positions get liquidated and selling pressure soars.

However, if the price finds support at $1.7K, it could potentially aim for the mid-boundary of the channel and even the resistance region at $2.1K. A descending wedge pattern can be observed in the 4-hour timeframe, making the significant support region at $1.7K a powerful level.