- The 50-day Exponential Moving Average for the Ethereum network remains strong:

Ethereum is trading at $2,265 on Friday, slightly above the 50-day Exponential Moving Average at $2,244, but it is still capped below the 100-day Exponential Moving Average at $2,344 and the 38.2% Fibonacci correction level at $2,367. This setup suggests a somewhat neutral trend within the broader parallel ascending channel, where the price is trading above the previous channel high at $2,148, but lacks sufficient strength to break through the higher correction range.

Momentum is mixed, with the Relative Strength Index on the daily chart hovering near the neutral level of 50 at 49, while the MACD indicator remains negative, indicating a fading bullish pressure despite staying above the short-term EMA support level.

On the downside, initial support is observed at the 50-day Exponential Moving Average near $2,244, with further protection from the previous channel ceiling at $2,148 and the 23.6% Fibonacci correction at $2,130; breaking this range would reveal the channel base near $1,747.

On the upside, bullish traders face their first major obstacle at the 100-day Exponential Moving Average at $2,344, followed by the 38.2% correction at $2,367; a sustained move above these barriers would open the way toward the 50% correction at $2,558 and then the 200-day Exponential Moving Average at $2,613, with the 61.8% level at $2,749 considered a target.
$ETH