ETH Consolidation Continues as Bullish Momentum Starts to Fade
The post ETH Consolidation Continues as Bullish Momentum Starts to Fade appeared on BitcoinEthereumNews.com. Ethereum has entered a consolidation phase after a strong rally in the last couple of months. The price has been ranging between key support and resistance zones, with multiple failed attempts to break above the $2,700–$2,800 region. Despite the lack of immediate trend continuation, on-chain fundamentals such as exchange reserves hint at significant structural shifts. This sets the stage for potential volatility ahead as the market prepares for its next directional move. Technical Analysis By ShayanMarkets The Daily Chart On the daily timeframe, ETH remains inside an ascending channel, consistently finding support around the $2,400 area while struggling to break above the $2,800 mark. The upper boundary of this channel, combined with the 200-day moving average and a key order block formed in February, is acting as a heavy resistance element. Each test of this level has led to a rejection, but so far, the structure hasn’t broken down, indicating that bulls are still in control for now. Momentum, however, is weakening. The RSI hovers around the midline at 51, reflecting indecision and a lack of strong directional drive. If ETH can reclaim the upper range and flip the $2,700–$2,800 area into support, it could initiate a new leg higher toward $3,000 and above. On the flip side, a breakdown below $2,400 would shift the bias bearish, exposing the $2,150 support zone. The 4-Hour Chart Zooming in on the 4H chart, ETH is still grinding within the same rising channel. After the recent drop from $2,875 to $2,430, the price retraced into the 0.5–0.618 Fibonacci zone, but has been rejected to the downside and is now consolidating below it. This area, between $2,600 and $2,700, has repeatedly acted as a supply zone, rejecting bullish attempts multiple times. For short-term traders, this remains the key level to flip. Until this resistance…
The post ETH Consolidation Continues as Bullish Momentum Starts to Fade appeared on BitcoinEthereumNews.com.
Ethereum has entered a consolidation phase after a strong rally in the last couple of months. The price has been ranging between key support and resistance zones, with multiple failed attempts to break above the $2,700–$2,800 region. Despite the lack of immediate trend continuation, on-chain fundamentals such as exchange reserves hint at significant structural shifts. This sets the stage for potential volatility ahead as the market prepares for its next directional move. Technical Analysis By ShayanMarkets The Daily Chart On the daily timeframe, ETH remains inside an ascending channel, consistently finding support around the $2,400 area while struggling to break above the $2,800 mark. The upper boundary of this channel, combined with the 200-day moving average and a key order block formed in February, is acting as a heavy resistance element. Each test of this level has led to a rejection, but so far, the structure hasn’t broken down, indicating that bulls are still in control for now. Momentum, however, is weakening. The RSI hovers around the midline at 51, reflecting indecision and a lack of strong directional drive. If ETH can reclaim the upper range and flip the $2,700–$2,800 area into support, it could initiate a new leg higher toward $3,000 and above. On the flip side, a breakdown below $2,400 would shift the bias bearish, exposing the $2,150 support zone. The 4-Hour Chart Zooming in on the 4H chart, ETH is still grinding within the same rising channel. After the recent drop from $2,875 to $2,430, the price retraced into the 0.5–0.618 Fibonacci zone, but has been rejected to the downside and is now consolidating below it. This area, between $2,600 and $2,700, has repeatedly acted as a supply zone, rejecting bullish attempts multiple times. For short-term traders, this remains the key level to flip. Until this resistance…
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