Ethereum’s price has stabilized within a narrow range, fluctuating between $2,470 and $2,537 in the last 24 hours, while both oscillators and moving averages show neutral-to-bearish signals, indicating a temporary halt in its short-term momentum.
Ethereum
The daily chart reveals a pattern of lower highs and lows for ethereum (ETH), suggesting a bearish undertone. However, the steady positioning around the $2,500 level could indicate the formation of a potential base. Despite reaching $2,769 earlier in October, the current low trading volume suggests a decrease in selling activity. The relative strength index (RSI) remains neutral at 48.77, indicating that ether is not overbought or oversold. Similarly, the commodity channel index (CCI) at -26.21 and the average directional index (ADX) at 19.15 both indicate limited momentum, reinforcing a quiet market environment. Key support is between $2,400 and $2,500, while resistance may emerge between $2,700 and $2,750 if bullish pressure gains traction.
ETH/USD 4-hour chart.
On the 4-hour chart, recent minor rebounds have brought ethereum (ETH) back to the $2,500 level after a dip to $2,380. The Stochastic oscillator, at 31.45, remains neutral, indicating softened momentum and potential indecision in the market. Meanwhile, the moving average convergence divergence (MACD) at 2.10 shows a sell signal, suggesting weak upward movement and advising caution against potential downside. A breakout above $2,525 on the 4-hour timeframe, ideally supported by a volume boost, could lead to a short rally towards the $2,600-$2,620 resistance range, while a stop-loss at $2,450 may help manage risk on a downward move.
ETH/USD daily chart.
The 1-hour chart highlights recent resistance around $2,540, with ethereum facing intermittent selling pressure, suggesting potential consolidation. Low volume at this level signals reduced trader commitment, and oscillators reflect similarly mixed momentum. Key support around $2,480 offers short-term stability, while the resistance between $2,540 and $2,550 poses a challenge. An entry at $2,540 with a close stop-loss around $2,480 could capture a minor upswing, with a target in the $2,560-$2,580 range if volume supports a push higher.
Moving averages (MAs) indicate a more bearish outlook across timeframes. The 10, 20, and 30-period exponential moving averages (EMAs) are all positioned below the current price, with the 10 EMA at $2,534.80 and the 30 EMA at $2,534.93, both suggesting sell signals. The longer-term 50 and 100-period EMAs, at $2,549.64 and $2,661.74 respectively, add to downside potential, as does the 200 EMA at $2,778.42. This bearish configuration suggests that ethereum faces considerable resistance to upward movement and may remain in consolidation unless it sees a breakout with strong volume support.
Bull Verdict:
A bullish scenario for ethereum depends on a breakout above the $2,550 level on both the 1-hour and 4-hour charts, ideally alongside rising trading volume to indicate buyer confidence. This would suggest enough momentum to push toward the $2,700 resistance zone, especially if oscillators flip to stronger buy signals and moving averages provide support.
Bear Verdict:
The bearish perspective is supported by the alignment of multiple sell signals across moving averages, signaling a challenging environment for sustained upward movement. If ethereum cannot hold support near $2,480, especially on the daily chart, it may see a retest of the $2,400 level. Such a scenario would deepen the current consolidation phase and likely extend the downtrend, encouraging a cautious approach for short-term positions.