- Ethereum Price Expectations: Ethereum faces strong resistance levels after dropping below $1,741.

On the daily chart, Ethereum continues its short-term downtrend, as its price remains below the 20, 50, and 100-day exponential moving averages (EMAs). The recent decline below the previous upward trendline, now acting as resistance near $1,774, confirms a break of the bullish structure, while the Relative Strength Index (RSI) around 38 and the mid-level Stochastic indicator readings suggest only a slight recovery from oversold conditions.

On the upside, initial resistance is near $1,741, followed by a dense support layer formed by the 20-day EMA at $1,770 and the reclaimed trendline around $1,774, with additional hurdles at $1,806 and $1,909 before the 50-day EMA at $1,926 and $2,018. The overall bearish outlook remains intact, as Ethereum trades below the 100-day EMA at $2,085 and horizontal levels at $2,108 and $2,211.

ETH/USDT Chart Analysis (Binance)
Daily ETH/USDT Chart
On the downside, current focus is on the horizontal support level at $1,524. Breaking this level would reveal deeper targets at $1,405 and then $1,156. $ETH