💥 Ethereum Price Analysis: ETH Prepares for Another Big Move After Surge to $2.8K
After weeks of choppy price action, Ethereum is back in focus as volatility brews across the crypto market. While ETH has maintained key levels recently, the growing divergence between price movement and futures open interest is raising eyebrows.
With macro uncertainty easing and altcoin narratives slowly rotating back into the spotlight, ETH is setting up for a potential directional move—but it remains to be seen whether that’s to the upside or downside.
🔥 Technical Analysis
By FAHEEM TRADERS
The Daily Chart
Ethereum continues to consolidate just below the $2,800 resistance zone after reclaiming the 200-day moving average yesterday. The price has been hovering within a narrow range, caught between the key resistance area around $2,800 and the $2,500 demand zone.
It has also been creating a tight ascending channel pattern below $2,800, which is usually a reversal pattern if broken to the downside. However, a bullish breakout from this pattern could invalidate the reversal and add fuel to a potential rally higher.
The RSI also chart remains stable around the 60 level, indicating there’s still room for upward movement before the asset enters overbought territory. But without a convincing break above $2,800, the move could still be classified as a range rather than a trend continuation.
If $2,500 gives way, and the channel is broken to the downside, a deeper pullback into the $2,100-$2,200 imbalance zone becomes increasingly likely, especially as resting liquidity remains uncollected there.
The 4-Hour Chart
Zooming in on the 4H timeframe, ETH’s price action inside the ascending channel becomes clear. This pattern has formed after an almost vertical impulse move from the $1,800 region, which left behind noticeable imbalances that are yet to be filled. There is also a Fair Value Gap formed around the $2,600 level, which is now acting as short-term support.
