Ethereum Price Momentum Fades as Buyers and Sellers Battle for Control

Ethereum's recent price action suggests momentum is fading as buyers and sellers battle for control beneath major resistance. The cryptocurrency remains below both the 100-day and 200-day moving averages, keeping the broader trend cautious despite the recovery from the June bottom.

The recent rally stalled just below the $1.95K region, where sellers quickly stepped in and pushed the price back toward the $1.88K to $1.91K supply zone. This area is now acting as immediate resistance, with a successful breakout above it potentially exposing the confluence of the 100-day and 200-day moving averages inside the $2.02K to $2.15K resistance zone.

On the downside, the $1.75K to $1.79K demand zone remains the first important support. Losing this area would likely trigger a deeper correction toward the major demand region around $1.56K to $1.64K.