Ethereum Price Analysis: Is ETH’s $2K Dream Dead After the Latest Rejection?

Ethereum is consolidating around the $1.8K area after recovering from its June lows, but the broader structure remains under pressure. The daily chart shows ETH trading below important moving averages, while the 4-hour chart suggests that the recent recovery has entered a range. Meanwhile, the exchange supply ratio has continued to decline, pointing to a shrinking amount of ETH held on exchanges.

Ethereum Price Analysis: The Daily Chart

ETH is currently trading around $1.88K, with the daily structure still characterized by a series of lower highs from the earlier 2026 peak. The price remains below the descending white trendline, which has acted as dynamic resistance, as well as below the higher moving averages shown on the chart. The 100-day moving average is currently around $1.9K, making the region an important near-term resistance zone.

The latest price action appears to be forming a consolidation just below this resistance. A sustained daily breakout above the moving average and the $2.1K resistance zone would provide the first meaningful indication that the overall corrective structure is shifting. Above that area, the next major resistance sits around $2.4K, which is a key area for ETH’s recovery.

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