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Ethereum price analysis: ETH was blocked twice at the US$2000 mark, and the market outlook may face

2026-08-03 00:31:57
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After multiple failed attempts to extend the rebound, Ethereum began to show signs of running out of momentum below the 100-day moving average. The region's latest rejection has eroded short-term momentum and increased the possibility of a larger correction if key support levels are lost.

Ethereum Price Analysis: Daily Chart

In the daily time frame, Ethereum has repeatedly tried to recover the 100-day moving average without success, and its prospects are gradually turning bearish. Dynamic resistance is around $1950, where repeated rejections, coupled with the emergence of a bearish daily candle chart, suggests buyer momentum is weakening.

At the same time, Ethereum is still struggling in the downward channel, whose upper boundary is represented by the white trend line, becoming the most critical support level. If sellers succeed in pushing prices back into the channel, it will confirm a continuation of bearish bearishness and may trigger a deeper decline, targeting the demand area of $1560 to $1640. On the upside, bulls must first recover the resistance zone between $1880 and $1910 before they can try again to challenge the 100-day moving average near $1950.

ETH/USDT 4-hour chart

The 4-hour chart became more bearish after Ethereum fell below its uptrend line, indicating that buyers have lost short-term control. This break shifts the focus to lower support unless the bulls can quickly recover lost structures. The first support level is currently in the demand area of $1850 to $1870, where prices are currently trying to stabilize. If it loses this area, the decline may accelerate, pointing to the next major demand range of US$1750 to US$1790.

On the other hand, the supply area of US$1880 to US$1910 has become the primary barrier for buyers. Successful recovery of this area will overturn the current bearish outlook and may allow Ethereum to challenge downward resistance and 100-day moving average again.

Sentiment Analysis

The Coinbase Premium Index is still in negative territory, indicating that Ethereum's trading price on Coinbase is still at a discount relative to other major exchanges. This continued negative premium suggests that despite the recent rebound, buying pressure on U.S. institutional participants remains relatively weak.

Historically, sustained positive readings are usually accompanied by stronger periods of upswing, while long-term negative readings tend to reflect caution in institutional sentiment. Unless the premium rises back to positive territory and remains maintained, the current rebound may not be able to develop into a sustained upward trend. If technical support begins to expire, Ethereum will face additional downward pressure.

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