I'm seeing Ethereum moving in this tricky range, still below the important moving averages. Yesterday it dropped another 1.5% and is trading near 2,310. The futures volume remains too high compared to spot, lots of speculation going on.



What catches my attention now is that the momentum is starting to show signs of stabilization, you know? The oscillator bars are turning green, almost becoming positive. If this continues and the price forms higher lows, Ethereum will rise toward 2,300 in the coming days.

There are two critical points to watch: short liquidations around 2,100 and above, and long liquidations near 1,950 and below. If Ethereum is really going to go up, it needs to break through this resistance at 2,100 first, otherwise it risks testing the lows again.

The 1D chart shows that as long as ETH doesn't recover the 50-day EMA at 2,311 and establish it as support, the overall trend remains technically weak. But considering that Ethereum will rise if it maintains this base between 1,900 and 2,000, a recovery is possible. It's time to see if it truly follows through or pulls back further.
ETH-0.37%
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