Ethereum: Momentum Slowing at Key $2k Resistance for BINANCE:ETHUSDT by DukesMarketAnalysis
Medium-term trend remains bullish Ethereum continues to produce a series of higher highs and higher lows, keeping the medium-term trend pointed to the upside. However, price is now approaching a significant resistance zone between $1,950 and the psychological $2,000 level. Moving averages remain supportive The 100/50-period EMAs remain bullishly crossed, with price continuing to find support above those averages. As long as this structure remains intact, the broader technical outlook …
Medium-term trend remains bullishEthereum continues to produce a series of higher highs and higher lows, keeping the medium-term trend pointed to the upside. However, price is now approaching a significant resistance zone between $1,950 and the psychological $2,000 level. Moving averages remain supportiveThe 100/50-period EMAs remain bullishly crossed, with price continuing to find support above those averages. As long as this structure remains intact, the broader technical outlook continues to favour the bulls. Resistance becoming more importantThe $1,950-$2,000 region has repeatedly attracted sellers and remains the key hurdle for the bulls. A convincing break and close above this zone would strengthen the bullish case and open the door to further upside. Support levels to watchInitial support sits around $1,850, with a stronger area just above $1,800. Holding these levels would preserve the current sequence of higher highs and higher lows. Momentum showing early warning signsBearish RSI divergence suggests buying momentum is slowing as price pushes into resistance. StochRSI remains overbought, while volume has stayed relatively neutral, increasing the importance of how price reacts at current levels. In SummaryEthereum's medium-term trend remains constructive, supported by bullishly crossed 100/50-period EMAs and a series of higher highs and higher lows. However, bearish RSI divergence and overbought momentum indicators suggest the $1,950-$2,000 resistance zone could prove difficult to overcome. A breakout would strengthen the bullish outlook, while failure to hold $1,850 could trigger a deeper pullback towards $1,800. I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions. Chart PatternsTechnical IndicatorsTrend AnalysisDisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use. Chart PatternsTechnical IndicatorsTrend AnalysisI analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions. DisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use.