Ethereum Price Teeters on the Edge of Shakeout

Ethereum's price has been steadily increasing, trading above its major moving averages and with smart money tilted long. However, this setup is precarious due to a dead MACD histogram and a retail crowd that is 71% long, which may lead to a shakeout.

The immediate resistance at $2,739.54 and the strong resistance cluster at $2,772.50 are key levels to watch. Until these levels are cleared on meaningful volume, this remains a setup on watch rather than a breakout.

Despite the bullish structure, momentum indicators are flashing yellow, with the RSI at 64.34 not overbought but buyers hesitating. The MACD histogram is printing dead flat at zero, which often precedes a directional decision.