Ethereum Price Analysis: Daily Chart
In the daily time frame, Ethereum (ETH) still maintains a more constructive macro structure. Since recovering from a low of about $1500 in June, prices have formed a series of higher lows and decisively broke through the $2400 zone in late August. Since then, prices have been consolidating and have not reversed the previous breakthrough increase.
The most important resistance level in the near term is in the range of $2700 to $2800. ETH has repeatedly tried to establish a sustained upward trend above this region, but failed, and the latest K-line is still trading around US$2700. If the closing price of the daily chart effectively breaks through US$2800, it will be expected to strengthen the bullish structure and further open up space to move into the main resistance zone of US$3000.
Macroscopic trends are supported by major moving averages. The 100-day moving average is around $2200, and the 200-day moving average is close to $2100. Both are far below current prices and are trending upward. These moving averages have shown a bullish cross pattern, and although they are currently in a consolidation stage, the medium-term structure remains bullish.
Thechart also shows an uptrend line connecting summer lows to subsequent higher lows. As long as that trend line and the $2400 support area remain intact, the broader recovery structure looks healthy.
ETH/USDT 4-hour chart
Short-term chart shows that ETH is trapped in a tightening structure between approximately $2600 and $2800. The downward upward trend line and the upward downward trend line are converging, forming a compressed pattern, which should eventually produce a directional breakthrough.
ETH is currently trading at around $2700, near the lower half of the range, but still above the uptrend support line. Therefore, the current immediate bullish trigger is a clear breakthrough in the $2800 region. Such breakthroughs would confirm that buyers have absorbed repeated selling pressure near recent highs.
On the downside, the current uptrend line provides short-term support around $2700. A break below this level will increase the probability of a correction to the $2400 demand area, which is the more important structural support level visible on the chart.
The 4-hour Relative Strength Index (RSI) is approximately 46.8, reflecting the momentum of neutral weakness. Neither oversold nor showed strong bullish impulse, which is consistent with the current consolidation situation. In other words, the market is waiting for a catalyst rather than showing a clear directional advantage.
On-chain data analysis
Ethereum's active trading ratio sends a more cautious signal. The indicator has dropped significantly from its high reading during the July-August rally, with the latest reading below the 1.0 level, indicating that active selling pressure currently exceeds active buying pressure on exchanges.
This suggests that the recent consolidation of ETH has not been accompanied by a significant increase in active demand in the futures market. The decline in the ratio is particularly striking because ETH remains at around $2700 rather than a sharp decline.
This divergence could mean that spot and derivatives participants are becoming more cautious, while passive demand continues to support prices. To strengthen the bullish scenario, a return to the active bid-ask ratio to 1.0 and above will be confirmation of the return of active buyers.
[TAG 28] For now, futures market signals advocate caution rather than outright bearish reversals. ETH remains technically above its main daily moving average and structural support, but lacks strong proactive buying power, making a potential $2800 breakthrough an important confirmation signal.
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