Ethereum holds near key support despite Vitalik Buterin positive comments

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Ethereum Slides 0.84% Today

Highlights

Ethereum remains under near-term selling pressure, trading below key moving averages with persistent weakness across longer timeframes.
Momentum indicators reinforce a bearish outlook, with strong sell signals from MACD and prevailing downtrend confirmed by ADX.
Expected price range for the next week is $1,575–$1,800, with a sub-20% probability of a near-term rebound and risk of decline toward the lower $1,600s if key support fails.

Buterin’s recognition and Glamsterdam upgrade met with risk-off trading

Vitalik Buterin highlighted the longstanding contributions of @hwwonx to the Ethereum research community, recognizing her impact on advancing consensus and protocol development. This positive commentary bolsters confidence and sentiment within the ecosystem, reinforcing ETH’s foundation for future growth. However, despite this supportive signal, the market is responding more to technical sellers and risk-off sentiment, as shown by continued price weakness. Meanwhile, Ethereum has launched its final devnet stage for the Glamsterdam upgrade, with strong developer engagement and renewed ETF inflows also contributing to underlying strength.

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Persistent bearish pressure as momentum indicators reinforce range risk

The Ethereum price of $1,740.27 is below the MA-20 ($1,768.77), MA-50 ($2,037.58), and MA-200 ($2,390.49), reflecting persistent selling pressure and a bearish outlook across timeframes. The nearest resistance is the Ichimoku Kijun at $1,827.82, with support set around the recent lows near $1,723. Momentum remains weak as the MACD confirms a strong sell signal and RSI is soft at 41.50. The 5-day forecast projects a range between $1,575 and $1,800, with risks tilted to the downside; the lack of price confirmation for the positive tweet adds caution to the outlook.

Anton Kharitonov, expert at Traders Union, regards Vitalik Buterin’s praise for @hwwonx as a positive nod to developer engagement, but remains skeptical about its immediate price impact. He believes the technical picture for Ethereum is decidedly negative, as ETH remains below key moving averages and momentum indicators confirm persistent selling. While fundamental and sentiment news offer some support, Kharitonov says, “ETH’s inability to hold critical support zones signals elevated downside risk despite ecosystem achievements.”

Previously it was reported that Ethereum was experiencing sustained bearish momentum, despite signs of increased institutional interest and ETF inflows. The current analysis revisits Ethereum's technical landscape, with particular attention to whether fresh developments are shifting sentiment, and highlights the importance of monitoring for a decisive move above immediate resistance as a potential signal of renewed upward momentum.

Source of Data: ETH Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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