$ETH

Ethereum (ETH) trades around $1,779.53, reflecting a volatile yet bearish short-term outlook. Technical analysis reveals ETH struggling below key resistance levels at $1,700–$2,000, with a bearish structure of lower highs and lows since early 2025. The 50-day moving average, currently above the price and falling, reinforces resistance, while the 200-day moving average slopes downward, signaling a weak long-term trend. The Relative Strength Index (RSI) at 41.39 indicates neutral momentum, with room for recovery if it crosses above 50, though weak buying pressure persists. Support lies at $1,550–$1,600, a historical zone tested since February 2023, while a break below could target $1,471.55, per Elliott Wave analysis.

Market sentiment remains cautious, with the Fear & Greed Index at 24, reflecting fear. Trading volume is steady but low, suggesting indecision. On-chain metrics show accumulation, but bearish pressure dominates due to competition from faster blockchains like Solana and regulatory uncertainties. The upcoming Pectra upgrade, enhancing scalability, could act as a bullish catalyst if successful, potentially pushing ETH toward $2,000. However, macroeconomic factors, including geopolitical tensions, may cap upside.

Short-term bearish signals suggest a possible dip to support levels, but a breakout above $1,800 could target $2,000. Traders should monitor RSI for momentum shifts and volume for breakout confirmation, while remaining cautious of broader market volatility.