Ethereum Struggles to Overcome Bearish Trend

Ethereum's price has shown a modest recovery but remains in a downtrend. Currently trading around $1,889, it's down nearly 61% from its 12-month high of $4,818 and still below the 200-day moving average.

Despite a 4.6% price rise over the past 30 days, the overall trend remains bearish with weak demand indicated by declining volume. The relative strength index is near 52, suggesting no strong buying momentum.

A key resistance at $2,228 must be overcome to confirm a trend reversal, and investors are advised to consider Ethereum's unique supply tied to network usage and the associated risks of higher volatility compared to Bitcoin.