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ETH Ethereum prices continue to trade below US$1,940, as traders focus on consolidation and wait for a clear directional trend to emerge.
Futures funding rates remain bullish, but optimism has weakened slightly, indicating that leveraged traders are still buying cautiously to control risk exposure.
As Ethereum tested resistance levels, selling pressure strengthened and trading volume increased, strong support around $1,830 remained crucial.
After several rounds of bearish trading, Ethereum prices are still under close observation, with assets currently below the main resistance level, while futures positions and technical indicators continue to signal a decisive round is coming.
Ethereum faces critical resistance areas
CRYPTOWZRD shares its daily technology outlook for Ethereum. The analyst sees $1,940 as a key resistance level. Once a breakthrough is confirmed, it will benefit long positions. 
Source:X
Chart shows that Ethereum is trading in a narrowed structure. Buyers continue to defend higher lows, while sellers still control the downward resistance line.
Price compression has reduced recent market volatility. This situation often indicates a stronger directional trend. Traders need to wait for a confirmation signal before acting.
If the resistance level cannot be recovered, the consolidation may continue. Analysts identified $1,830 as the main support level. This level remains critical for bulls.
Selling pressure tests market structure
As of writing, the price of Ethereum was approximately US$1,881.35, down 3.87% in 24 hours. The market value is approximately US$227.04 billion. Trading activity increased during the selling period.
The market opened at around $1,965, and then continued to sell. A low intraday high is formed, momentum gradually weakens, and finally support is lost.
The price dropped sharply below the $1,925 area before stabilizing near $1,880. Buyers slowed down further downtrend.
Trading volume for this session was approximately $12.89 billion. Participation rose as prices fell, reflecting active bearish pressure.
Funding rate data suggests cautious optimism
In recent transactions, the weighted funding rates for open interest contracts have mostly remained positive. Long positions continue to dominate the futures market. Despite weak prices, traders remained cautious. 
Source:Coinglass
The previous rebound has been accompanied by continued positive funding rates. Ethereum rose strongly during these periods, and market sentiment supported leveraged long exposure.
Negative funding rates peaked during major pullbacks and short positions briefly seized control of the market, periods that corresponded to more drastic price declines.
Recently, funding rates have returned to mostly positive areas. As of writing, Ethereum is trading in the $1,800 to $2,000 range. The market is currently waiting for confirmation above $1,940, or testing $1,830 again to give a clearer signal of direction.
