Ethereum's Consolidation Continues: A Breakout Above $2K Remains Elusive

Ethereum's price has been stuck in consolidation mode, failing to show decisive momentum despite its recovery from the June lows. The market is hovering around the 100-day moving average, with ETH trading at approximately $1.9K on the daily timeframe.

The horizontal consolidation around this moving average suggests neither buyers nor sellers have gained control, leaving ETH in a neutral phase in the short term. However, the broader structure remains vulnerable to a breakout above or below this range.

On the upside, the $2.06K-$2.15K zone is the first major resistance area, with the longer-term moving average converging toward this region. A decisive breakout above it would indicate a bullish shift.

The 4-hour timeframe shows ETH oscillating between the $1.80K-$1.84K demand zone and the $1.95K-$1.98K resistance area, with price currently near the middle of this structure at roughly $1.89K.