Ethereum Price Momentum Fades Amid Bullish Trend

Ethereum's price today sits at $2,709, trading above its daily pivot of $2,698.85 and all three key EMAs on the daily chart.

The daily MACD shows a bearish divergence with the histogram at -3.4, signaling decelerating momentum despite the intact uptrend.

Ethereum's trend is still bullish, but momentum readings beneath that trend are beginning to show cracks.

If price loses the EMA20 at $2,615.49 or slips under the S1 pivot at $2,662.70, a retracement toward $2,438.39 becomes realistic.