Ethereum is trading near key support as analysts watch for a pullback, but failure to hold could put the market under further downward pressure.
Ethereum ($ETH) The price is trading around $2,137, down 0.5% on the day. This took place during a period of trading that saw sharp fluctuations between $2,104 and $2,187. The chart shows a strong start; $ETH It rallied towards the top of the intraday range but lost momentum and sellers pushed the price lower late in the session.
The subsequent rally showed that buyers were still willing to defend the downside, but the recovery lacked enough strength to regain previous highs. As such, Ethereum is in a short-term mixed situation, with support remaining active but no upward follow-through yet.
especially, Ethereum We are now in a critical area where the next move will determine whether the bulls regain control or the bears push the market lower once again.
Can Ethereum bulls defend key levels?
Looking at the daily chart, $ETH It sits between key dynamic levels from the Chande Kroll Stop indicator and is trading near $2,139. The blue line (stop long) at $2,023.70 acts as trailing support and the orange line (stop short) at $2,268.90 acts as overhead resistance.
Ethereum 1D analysis
Prices moving above the blue level suggest that the broad recovery structure remains intact, while the failure to regain the orange line indicates that the upward momentum is still facing pressure.
The current settings reflect a market in transition rather than a solid trend. Buyers are maintaining control above the stop-long level, which is keeping the recent rally active. However, repeated rejections below the stop-short line indicate that sellers are still active near the upper limit, preventing a breakout to higher levels.
Momentum indicators also show changes. The Awesome Oscillator remains above zero at 199.16, indicating that overall bullish momentum still exists. However, the latest histogram bar has turned red, indicating a slowdown in upside strength after the recent rally towards the $2,300 area.
Final bounce back before major dump
Analyst Ted Pillows commented in the social media comment section. said Ethereum faced a strong rejection from the $2,400 resistance zone. It is currently retesting the $2,150 level, which could serve as support for the time being.
Ethereum predictions
According to the analyst, sustaining above $2,150 could trigger a short-term rebound before the next sharp decline. The key levels to watch below are seen around $1,700 and $1,693.
On the contrary, upside liquidity first exists around $2,400, followed by the important $2,600 zone, which previously triggered a sharp rejection.
