ETH Trapped Beneath Technical Barriers as Bulls Battle Sellers

Ethereum (ETH) has been under pressure on higher timeframes despite showing signs of stabilization over the past few weeks. The asset's daily structure continues to trade below key moving averages, while the 4-hour chart shows buyers attempting to build a higher low above a key support area.

On the daily chart, Ethereum is trading around $1.86K after recovering from the June sell-off that briefly pushed the price into the major demand zone around $1.5K. However, both the 100-day and 200-day moving averages are still overhead, indicating that sellers still control the higher timeframe structure.

On the other hand, the lower timeframe presents a more constructive picture. Since the early July rebound, Ethereum has been printing higher highs and higher lows while respecting a rising trendline (white) that continues to support the advance.