Ethereum Consolidates Below $2.5K Resistance
Ethereum's recent price action has been characterized by a sharp recovery from June lows and subsequent consolidation below $2.5K.
The asset reclaimed several important technical levels, including the $1.9K zone and the $2K mark, but is still struggling at a key resistance area around $2.5K.
Despite this, the daily structure has improved materially, with both the 100-day and 200-day moving averages sloping upward after being reclaimed.
The 4-hour chart shows ETH consolidating inside a tight range between $2.35K and $2.55K, with the $2.4K-$2.5K area being the key near-term pivot.
However, the Ethereum Taker Buy/Sell Ratio chart provides a more cautious signal, as aggressive sell orders have slightly outweighed aggressive buy orders across exchanges.