Ethereum price drifts near $2,550 as bulls struggle to reclaim control below key resistance
Ethereum consolidates near $2,550 as momentum cools after rejection from $2,610 resistance
Ethereum (ETH) traded around $2,550 on Monday, easing slightly after rejecting the upper end of a multi-week consolidation range. The asset briefly tested the $2,610 level late last week before pulling back, as buyers failed to overcome resistance near the previously established supply zone. Momentum indicators now suggest caution as the cryptocurrency enters a narrowing pattern, awaiting a decisive break to confirm its next direction.
Highlights
- Ethereum trades near $2,550 after rejecting resistance between $2,590 and $2,610
- Momentum indicators weaken on lower timeframes as bulls struggle to push higher
- A close above $2,610 may reignite bullish continuation toward the $2,860 zone
Support holds above key EMAs as volatility contracts
On the 4-hour chart, Ethereum remains above the 100 and 200 EMA levels at $2,499 and $2,485 respectively, keeping bullish structure technically intact. However, the rejection from $2,610 has pulled ETH back toward a key ascending trendline near $2,525. This level also aligns with the lower boundary of a potential bull flag and the early July breakout point. A breakdown here could expose $2,470 and, ultimately, $2,400 as downside targets.
ETH price dynamics (Source: TradingView)
Volatility appears to be declining, with Bollinger Bands narrowing after a recent expansion. The 20 and 50 EMA remain supportive, but lack of volume on recent upside attempts has kept ETH capped beneath the $2,600 level.
RSI and MACD signal weakening momentum
Short-term charts reflect diminishing strength. The 30-minute RSI has slipped just above the neutral 50 mark, while the MACD has turned negative following a bearish crossover. This shift indicates that recent bullish momentum is fading, and unless renewed buying pressure emerges, Ethereum may remain stuck in the $2,485 to $2,610 compression range.
In earlier technical updates, we highlighted the significance of the $2,470–$2,485 demand zone as a foundation for bullish continuation. That zone remains valid, and while bulls still control the broader structure above $2,470, the failure to push past $2,610 raises the likelihood of further consolidation. A close above $2,610 remains the trigger to watch for any potential push toward $2,860.
