Discover the latest technical and on-chain analysis of Ethereum’s stagnant price, including a consolidation phase, resistance levels, and the future of the Ethereum 2.0 upgrade.
Ethereum (ETH) has remained stagnant for an extended period of time, leaving the market with uncertainty and full of bearish sentiment. Nonetheless, the price is consolidating inside a tight range, and a breakout could eventually hint at the following move’s direction.
The price faced resistance at the $2K level and following that dropped below a short-term upward trendline. It is now undergoing a pullback to test this same trendline.
In the meantime, Ethereum (ETH) is up against the 100-day moving average, which represents a strong level of support positioned at $1781. A whole lot of boost in selling pressure would be necessary to be able to push the price below this critical price point.
Presently, Ethereum (ETH) is confined during a tight range, approximately betwixt the 100-day moving average at $1781 and the ascending trendline around $1890. A breakout from this range will likely determine the short-term outlook of Ethereum.