Ethereum's Tight Consolidation Continues Around $1,900

Ethereum and Bitcoin are mirroring each other's summer trading patterns. Both assets have been stuck in range-bound trading, but Ethereum's range is thinning around $1,900. According to Bret Kenwell of eToro, the cryptocurrency remains below its 200-day moving average while resistance near $1,950 persists.

This tight consolidation has traders waiting for a breakout, with bulls hoping for an upside move and bears watching for support to fail. Ethereum is currently trading at $1,899, down 0.3%, while Bitcoin is inching lower by 0.1% to $64,281.