Ethereum Price Analysis: ETH holds key support, but bull momentum weakens
Ethereum is still trading in key technology areas after a sharp rebound from its June low. Although the overall rebound pattern remains unchanged, the latest price trend shows that the upward momentum is fading as the long and short sides compete fiercely below the main resistance level.
Ethereum Price Analysis: Daily Chart
From the daily chart, Ethereum is still below the 100-day and 200-day moving averages. Although it has rebounded from its June lows, the overall trend remains cautious. The recent rally was blocked near the 100-day moving average (around the $1950 area), and sellers quickly stepped in and pushed prices back into the $1880 - 1910 supply area.
The region currently poses direct resistance. If this range is successfully exceeded, the medium-term outlook will improve and is expected to hit the intersection of the 100-day and 200-day moving averages in the 2020-$2150 resistance range. Until then, ETH still faces the risk of being suppressed again.
On the downside, the demand area of US$1750 to US$1790 is the primary support. A loss in this area could trigger a deeper correction, pointing to the main demand area around $1560 to $1640.
ETH/USDT 4-hour chart
The 4-hour chart shows that Ethereum is trading in a convergent pattern, with price fluctuations limited between the rising white trend line and the falling yellow trend line. This narrowed range reflects the market's increasing hesitation, with both sides failing to establish a decisive direction.
Ethereum is currently consolidating near the US$1880 to US$1910 resistance zone while continuing to be supported by the upward supporting trend line. If we can break through the resistance zone and the downtrend line at the same time, the bullish momentum will be greatly enhanced and pave the way for another hit to recent highs.
However, if the white uptrend line falls below, the current pattern of upward shifts in highs will be broken and may accelerate the pullback to the demand area of US$1750 to US$1790. Buyers are expected to defend the overall rebound structure in the region.
Sentiment analysis
The two-week Binance clearing heat chart shows that there is a significant liquidity concentration area near the level of approximately US$2000 above the current price, making it the primary upward liquidity target for buyers if they regain momentum.
At the same time, an important clearing cluster has been formed in the approximately US$1820 area below the market. As prices currently trade between these two liquidity pools, Ethereum is likely to continue to experience volatile and range-bound movements before making a decisive breakthrough into one of the highly liquid areas. No matter which cluster is touched, volatility may increase due to the liquidation of leveraged positions.

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