Ethereum Price Stuck Below Key Resistance Zone
Ethereum's price continues to struggle below the $1,936-$1,948 resistance zone, leaving bulls searching for a breakthrough.
The Relative Strength Index (RSI) is hovering around the 50 level, indicating little upward movement after ETH's recent recovery. This suggests that buying momentum has stalled, with bulls struggling to build enough strength to push the price through resistance.
The RSI remains below its moving average, adding to the indication that the rally is losing momentum rather than accelerating.
Ethereum's network activity, however, has picked up sharply over the past two days, with active addresses surging to around 870,000. This increase suggests a positive fundamental signal, even as ETH struggles to gain momentum near resistance.