- Ethereum Price Outlook: Ethereum faces resistance near the 20-day Exponential Moving Average (EMA)
Ethereum experienced liquidations totaling $78.3 million over the past 24 hours, driven by $48 million in long liquidations, according to Coinglass data.
On the daily chart, Ethereum is trading at $1,980. The short-term trend remains slightly bearish as the price stays below the 20-day EMA(EMA) near $2,025, keeping the spot price confined below the short-term trend indicator.
The Relative Strength Index (RSI)(RSI) remains in the mid-40s after bouncing from the oversold region, indicating a waning bearish pressure rather than a strong bullish dominance. The Stochastic indicator (Stoch)(Stoch) has fallen from high levels near 70, suggesting a slowdown in upward momentum after the recent rebound, keeping the asset in a consolidation phase rather than resuming a clear trend.
Daily chart of the ETH/USDT pair
Immediate resistance is seen at $2,108, and a break above this level could expose the price to $2,389, while the $2,746 level represents a stronger barrier aligned with the overall correction structure. On the downside, the initial support level is at $1,741, followed by $1,524, with a lower support at $1,405 in case selling pressure resumes.
Maintaining a level above $1,741 preserves the current stability, while a daily close above the 20-day EMA will start to tilt the trend toward bullishness.
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