#ETH Ethereum is going through an unusual pause: after the war shocks of June, the cryptocurrency has been trapped in a corridor of 2,400 – 2,700 US$ that has remained unbroken for several weeks. This lethargy, shared by a good part of the altcoins, provides an interesting snapshot of how the markets digest a partial relief from geopolitical risk, an economic calendar without major immediate jolts, and the absence of disruptive news from the crypto ecosystem itself.

The Crypto Fear & Greed index remains close to the neutral zone —between 47 and 55 points— reflecting a market without strong conviction in either direction. Ethereum oscillates between a well-defined resistance and its volumetric value zone, supported by the upward trendline and the long-term MA. The market is watching four points: (1) the excess supply that looms around 2,550 US$, (2) the price-volume divergence that calls for a turn to support any breakout, (3) the increasingly flat angle of the fast EMAs, and (4) the critical zone of 2,300 - 2,320 US$: closing below would imply breaking support and trendline at the same time.