Ethereum was under intense selling pressure after losing its 100-day moving average, but it finally recovered several months later in April. Due to falling below the recent major demand zone, $ETH While both technical and on-chain indicators continue to favor the bears, the pair rallied to new local lows around $1.75,000. The current structure suggests that further declines cannot be ruled out unless buyers quickly regain lost levels.
Ethereum Price Analysis: Daily Chart
In the daily time frame, $ETH Since the reversal from the $4.8,000 cycle high, it has been trading below a well-defined long-term bearish trend line. The trend line remains in place and has repeatedly limited recovery attempts during periods of decline. It also rejected the May pricing that triggered the current aggressive decline.
More importantly, Ethereum is currently trading below both its 100-day moving average and 200-day moving average, currently sitting around $2.15,000 and $2.40,000 respectively. The failure of either moving average to recover confirms that the broader market structure remains bearish.
Currently, the price is below the $1.8,000 support zone, which represents an important technical advance. This area has been functioning as a market since February. The price is currently trading below that level around $1.76,000, with previous support turning into immediate resistance.
If sellers maintain control, the next major demand zone will be around $1.5,000, which represents the next visible daily support area. A deeper correction could expose the area in the coming weeks. On the positive side, the bulls will first need to regain the $1.8,000 zone before targeting the resistance cluster just above $2,000. Until then, everything on the daily chart is very bearish.
$ETH/USDT 4 hour chart
The 4-hour chart paints a similarly weak picture. $ETH The price broke below the descending channel that had been suppressed throughout May, suggesting an acceleration of the bearish trend rather than a bullish breakout. In addition to the channel collapse, Ethereum is tearing through the $2,000 support area and losing the important $1.8,000 zone.
Prices are currently testing the lower end of the $1.75,000 to $1.8,000 demand area. This region could cause a short-term rebound due to its historical significance, but the overall structure remains bearish otherwise. $ETH It could recover and consolidate above $1.8,000.
The 4-hour RSI is also heavily oversold near 20. This reflects aggressive downside momentum. A bearish depletion may be underway, but there is currently no visible bullish divergence on the charts, so there is no sign of even a small rebound that could stabilize the market for a while.
sentiment analysis
The Ethereum taker buy/sell ratio provides additional evidence that market participants are still heavily biased toward selling activity. This indicator compares active buy orders to aggressive sell orders across exchanges, with readings above 1 indicating strong buying pressure and readings below 1 indicating seller advantage.
The ratio has plummeted to around 0.96, one of the lowest readings on the chart, continuing a sustained decline that began after recovery efforts in April and May. The continued position of the indicator below the neutral 1.0 level suggests that market takers continue to prioritize sell orders, reinforcing the bearish trend seen on both the daily and 4-hour charts.
For the outlook to improve, this ratio will ideally need to recover and remain above 1.0, indicating that active buyers are returning to the market. Until that happens, futures positioning data continues to support the broad bearish view, suggesting downside risks remain high despite oversold technical conditions.
