ETH Price Stalls at 7-Day SMA as Momentum Flatlines

Ethereum's price is stalling at its 7-day moving average of $2,685, a level it has been resting against for most of the day. This is not a coincidence, but rather price discovery hitting a ceiling of near-term inertia.

The session range ran from $2,650 to $2,777, with Ethereum printing at $2,680, down 1.79% on the day. The broader trend picture remains intact, however, with ETH comfortably stacked above its 20-day, 50-day, and 200-day moving averages.

The bull thesis is still alive, but momentum has gone completely flat, with the MACD histogram having converged to zero. This signals that the buying pressure that drove Ethereum into the upper half of its Bollinger Band has exhausted itself.