Ethereum Rally Loses Momentum as Bulls, Bears Clash Below Key Resistance
JH Kim
Summary
- Ethereum (ETH) is seeing buying pressure and selling pressure clash below a key resistance level, slowing its upside momentum.
- ETH is trading below its 100-day and 200-day moving averages, leaving the broader bearish trend intact, while strong resistance near $1,950 drew fresh selling pressure.
- On the four-hour chart, ETH is moving within a consolidation range, with buying pressure and selling pressure in balance and no clear short-term direction yet.
Forecast Trend Report by Period
Ethereum (ETH) is losing upward momentum as buyers and sellers battle below a key resistance level following a strong rebound in June, CryptoPotato reported on July 30.
On the daily chart, ETH remains below its 100-day and 200-day moving averages, indicating that the broader medium- to long-term trend is still bearish, the outlet said. The recent rebound also met resistance near $1,950, where the 100-day moving average is located, prompting selling pressure to return quickly.
On the four-hour chart, ETH is moving within a consolidation range. In the short term, buying and selling pressure remain balanced, leaving no clear directional signal.
JH Kim
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