Technical Review: Ethereum — Range Break Confirmation, Increasing Bearish Pressure

Ethereum shows a clear rejection from the range top and is now beginning to break out of consolidation, with the price losing short-term support. The structure indicates a risk of further decline unless key resistance is reclaimed.
EMA Structure (Bearish Continuation)
EMA 20: $2,132
EMA 50: $2,193
EMA 100: $2,277
EMA 200: $2,509
Price trading below all EMAs
EMA arranged bearishly (20 < 50 < 100 < 200)
Short-term EMAs act as dynamic resistance
👉 The trend remains bearish with rejections at every upward attempt
Fibonacci Levels
0.786: $4,269
0.618: $3,729
0.5: $3,350
0.382: $2.971
0.236: $2,502
0 (Low): $1,744
Price holds well below 0.236 ($2.5K)
No strong retracement structure
Trading within the lower discount range
👉 The market is still in a deep bearish zone
Market Structure (ICT Concept)
Clear downtrend (higher lows + lower highs)
Recent price action shows range → breakout attempt
Rejection from bearish OB near $2.10K–$2.15K
Internal liquidity absorbed → continuation of selling side
👉 Setup aligns with distribution → breakout phase
RSI Momentum
RSI (14): 31–35
Approaching oversold zone
Weak momentum, no bullish divergence
👉 Sellers are dominant, but a short-term bounce may occur
📊 Key Levels
Resistance
$2,080 – $2.15k (range peak / OB zone)
$2,200 – $2,300 (EMA + major resistance)
Support
$2,020 – $2,000 (current support)
$1,950 (minor support)
$1,750 (major demand / macro low)
📌 Summary
Ethereum shows confirmed weakness after range rejection, now testing lower support with increasing downside pressure.
Break below $2,000 → moving toward $1,950 / $1,750
Reclaim $2,150 → short-term relief bounce toward $2,200+
👉 Current condition: Range break ongoing
👉 Bias: Short-term bearish, medium-term bearish
⚠️ Watch the $2,000 level carefully
Break below → strong continuation downward
Hold above → temporary bounce possible
$ETH