Ethereum $ETH is currently trading at $1,810.96, showing a small gain of +0.77% in the last 24 hours. It’s a nice little green candle, but what does it really mean for ETH’s direction? Let’s take a step back and look at the bigger picture.
Since hitting a high of $4,107.80 earlier in 2024, ETH has been in a pretty consistent downtrend. On the weekly chart, there’s a clear pattern of lower highs and a string of red candles. The most recent major low came in at $1,385.05, and while ETH has bounced back to the $1,800 range, that move still looks more like a technical rebound than a full trend reversal—at least for now.
$ETH Looking at trading volume, we saw a big spike in selling when ETH dropped to $1,385. Since then, there’s been a decent attempt by buyers to defend the $1,800 area. Momentum indicators like the MACD and RSI (not shown here but likely still bearish or oversold) suggest there’s potential for a short-term move up—but nothing too wild unless the overall market turns more bullish.
One interesting signal? $ETH
The order book shows 87.02% of orders are bids, meaning most traders are looking to buy. That kind of imbalance can often lead to short-term price pushes. However, ETH is running into resistance at nearly every dollar—$1,811, $1,812, $1,813—so it’ll need a decent volume push or some big news to break out cleanly.
So what’s the outlook?
For now, unless ETH can break and hold above $2,000, it’s probably going to stay range-bound between $1,700–$1,900. The broader trend still leans bearish, but there’s room for short-term trades if sentiment improves or Ethereum gets a bullish catalyst.$
Stay sharp and watch the key levels—things can move quickly in crypto.