Ethereum Faces Key Resistance at 2700 as Bullish Momentum Slows

Ethereum is currently trading near the $2,700 mark after a strong recovery from its summer lows. The cryptocurrency has been consolidating within a tightening range between $2,600 and $2,800, indicating a potential pullback. The taker buy/sell ratio has weakened, suggesting cautious short-term positioning.

On the daily chart, Ethereum maintains a constructive broader structure. The recovery from the June low around $1,500 established a series of higher lows, with a decisive move above $2,400 in late August. The key resistance area remains between $2,700 and $2,800, and a breakout above $2,800 could strengthen the bullish structure, exposing the next major resistance around $3,000.

The 100-day and 200-day moving averages are positioned well below the current price and sloping upward, supporting the broader trend. The chart also shows an ascending trendline connecting the summer low and subsequent higher lows, reinforcing the recovery structure.

On the 4-hour chart, Ethereum is trapped within a tightening structure. A clean move through $2,800 would confirm buyer absorption of supply, while a break below the rising trendline could lead to a move back toward the $2,400 demand zone. The 4-hour RSI is around 46.8, reflecting neutral-to-soft momentum.

The taker buy/sell ratio indicates cautious positioning, with aggressive selling pressure outweighing aggressive buying pressure. This suggests that spot and derivatives participants are becoming more cautious while passive demand continues to support the price. A recovery in the taker buy/sell ratio back toward and above 1.0 would confirm the return of aggressive buyers.