Ethereum Stalls at Key Resistance as Bulls and Bears Clash
Ethereum has staged an impressive rebound from its local bottom and is now testing increasingly important resistance levels. The coming sessions should provide more clarity on whether this recovery has enough momentum to continue.
The daily chart shows ETH holding above the previously broken descending trendline, confirming that the medium-term structure has improved compared to the aggressive selloff seen in June. Following the breakout, the market has successfully established a sequence of higher highs and higher lows while consolidating above the $1.76K to $1.82K support region.
However, the recovery is now approaching a major technical barrier. The $1.88K to $1.91K supply zone is acting as the first resistance, while the declining 100-day moving average sits just overhead near the $1.95K area. This creates a confluence of resistance that could cap the current rally before ETH attempts to challenge the broader long-term supply zone between roughly $2K and $2.15K.
On the 4-hour timeframe, Ethereum has slipped slightly below the ascending trendline that had guided the recovery throughout July. While the break is not yet decisive, it signals that bullish momentum is beginning to weaken as the price trades inside the $1.88K to $1.91K supply zone.
From a derivatives perspective, the one-month Binance ETH liquidation heatmap shows a substantial concentration of liquidity around the $1.5K level. Although Ethereum is currently trading well above that region, this cluster remains an important magnet and could attract price if sellers regain control.