Ethereum Price Analysis: ETH Hits a Decision Point as Major Resistance Comes Into Play
After staging an impressive rebound from its local bottom, Ethereum is beginning to test increasingly important resistance levels. The coming sessions should provide more clarity on whether this recovery has enough momentum to continue.
Ethereum Price Analysis: The Daily Chart
The daily chart shows ETH holding above the previously broken descending trendline, confirming that the medium-term structure has improved compared to the aggressive selloff seen in June. Following the breakout, the market has successfully established a sequence of higher highs and higher lows while consolidating above the $1.76K to $1.82K support region.
However, the recovery is now approaching a major technical barrier. The $1.88K to $1.91K supply zone is acting as the first resistance, while the declining 100-day moving average sits just overhead near the $1.95K area. This creates a confluence of resistance that could cap the current rally before ETH attempts to challenge the broader long-term supply zone between roughly $2K and $2.15K.
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