Ethereum Price Caught Between Daily Trend and Short-Term Weakness
The Ethereum price today sits at $2,650, caught between a constructive daily trend and short-term weakness.
According to aggregated market data, the total crypto market capitalization dropped 4.34% over the past 24 hours to roughly $2.84 trillion. The Fear & Greed Index reads 74, solidly in 'Greed' territory, which is an odd combination: sentiment gauges lean euphoric while the tape itself is bleeding.
The daily trend still points up, with Ethereum closing at $2,650.97 above its 20-day EMA ($2,602), 50-day EMA ($2,425.86) and 200-day EMA ($2,244.91). However, the MACD histogram has turned negative at -4.59, signaling fading upside momentum.
On the other hand, the shorter timeframes paint a weaker picture than the daily chart. The hourly regime is neutral on the 1-hour chart, but RSI at 32.52 is near oversold territory, and the MACD has flipped negative (-12.33 vs. a signal of -8.84). On the 15-minute chart, the regime is flagged outright bearish.
The market volatility is elevated, with daily ATR running at $97.72. The key levels to watch sit just above and below current price, including resistance at $2,691.09 (R1) and support at $2,623.27 (S1).