Zoye
06/29 11:41
ETH Consolidates Below 200-Day SMA Ethereum is cu
ETH Consolidates Below 200-Day SMA
Ethereum is currently trading at $2,427, consolidating below the key 200-day simple moving average (SMA) at $2,544. After bouncing off support near $2,200 earlier this month, ETH has managed to hold above the 100-day SMA ($2,167) and regain some structure. However, the price remains capped by a cluster of resistance levels, including the 50-day SMA ($2,534) and the 200-day SMA, both of which are converging near $2,540—a critical zone for bulls to reclaim.
The chart shows that Ethereum has been trading within a broad range between $2,200 and $2,800 for several weeks, reflecting indecision in the market. The failure to break through the $2,800 zone earlier in June has kept ETH in a sideways pattern. Volume has also declined, suggesting caution among traders as ETH tests this tight band of resistance.A strong daily close above the $2,540–$2,550 region could confirm a bullish breakout and reignite momentum toward the $2,800 level. On the downside, a drop below $2,300 would weaken the current setup and expose Ethereum to further losses.
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