Ethereum Price Analysis: ETH Holds Key Support but Bullish Momentum Fades

Ethereum continues to trade within a critical technical area after recovering sharply from its June lows. While the broader rebound remains intact, the latest price action suggests momentum is fading as buyers and sellers battle for control beneath major resistance.

Ethereum Price Analysis: The Daily Chart

On the daily timeframe, Ethereum remains below both the 100-day and 200-day moving averages, keeping the broader trend cautious despite the recovery from the June bottom. The recent rally stalled just below the 100-day MA near the $1.95K region, where sellers quickly stepped in and pushed the price back toward the $1.88K to $1.91K supply zone.

This area is now acting as immediate resistance. A successful breakout above it would improve the medium-term outlook and expose the confluence of the 100-day and 200-day moving averages inside the $2.02K to $2.15K resistance zone. Until then, ETH remains vulnerable to another rejection.

On the downside, the $1.75K to $1.79K demand zone remains the first important support. Losing this area would likely trigger a deeper correction toward the major demand region around $1.56K to $1.64K.

… Continue reading the full article at the original source below.