Ethereum Price Struggles Under Major Resistance Levels Amid Bearish Pressure

Ethereum (ETH) is facing mounting selling pressure as technical indicators suggest continued weakness. Despite brief rebounds earlier this month, ETH remains stuck beneath critical moving averages, dashing hopes for a swift recovery. According to the daily chart, Ethereum has repeatedly failed to break through the 50-day and 100-day exponential moving averages (EMAs), encountering stiff resistance between $1,850 and $1,900.

Worse, the weekly charts reveal an even bleaker outlook. ETH is currently trading well below key averages, including the 8-week, 20-week, and 50-week simple moving averages (SMAs). At around $1,820, Ethereum lags significantly behind the 50-week SMA at $2,850 and the 20-week SMA at $2,560, historically a bearish signal indicating the risk of further downside.

Adding to the pressure, ETH remains under nine of the ten major tracked moving averages. Without a major bullish catalyst, this technical imbalance creates downward momentum, making any sustained rally increasingly difficult. Further resistance looms from the 200-week and 250-week SMAs at $2,450 and $2,220, respectively.

Unless Ethereum decisively breaks above these critical levels, its bullish momentum is likely to remain fragile. In the short term, ETH may continue trading within the $1,750 to $1,900 range. However, risks remain skewed to the downside, and without a clear breakout above $2,000, Ethereum could struggle to participate in any broader cryptocurrency market rallies.