Ethereum continues to face significant challenges as it remains under sustained pressure across higher timeframes. The price is currently trading well beneath its major moving averages, indicating a dominant bearish market structure. Although there was a recent rebound from the lows recorded in February, stabilizing around $1,900, the charts reveal that buyers are having difficulty reclaiming any significant resistance levels, leading to a cautious short-term outlook.
Analyzing the daily chart, it is evident that ETH is trading below both the 100-day and 200-day moving averages, which are still trending downward, further confirming the bearish trend. The asset is adhering to a descending structure that has persisted for several months, with each recovery attempt failing to reach a substantial trend reversal point. Currently, the market hovers just above a crucial support zone around $1,800, which has provided a floor following the sharp selloff in February. On the upside, resistance remains clearly defined at approximately $2,400, followed by another level at $2,800. Despite ETH”s bounce from recent lows, the recovery lacks strength and continuity, signaling that sellers remain active during price rallies.
Looking at the 4-hour chart, ETH recently attempted to breach the $2,150 resistance area but faced swift rejection, resulting in a formation of a local lower high. This confirms that the $2,150 level is a significant barrier in the short term. Following this rejection, the price has retraced to the mid-range around $1,950, reflecting a lack of aggressive buying interest after the unsuccessful breakout attempt. Consequently, ETH is trapped in a narrow short-term range, with $1,800 still acting as critical support and $2,150 serving as immediate resistance to reclaim. A decisive break below the lower boundary could potentially lead to further declines, surpassing the February lows, while recovery above $2,150 would indicate that buyers are starting to regain some control. Nonetheless, the current structure on the 4-hour chart indicates a preference for consolidation or bearish continuation unless buyers can achieve a stronger reclaim soon.
From a sentiment perspective, the Coinbase Premium Index remains a weak point for Ethereum. Although this indicator has begun to recover from the deeply negative readings observed in February, it still hovers around the neutral line, lacking the sustained positive premium that would suggest strong spot demand from US investors. This implies that interest from institutional and larger US-based buyers remains tentative, rather than decisive. While sentiment is no longer in outright capitulation territory, it is also far from confirming bullish conditions. The improvement in the premium index offers a mildly constructive outlook and may support the idea of local stabilization; however, without a firm push into positive territory, sentiment is likely to remain neutral to slightly bearish, consistent with the current fragile technical structure.
