- Ethereum price struggles to hold early-week rebound from 200-day EMA.
- ETH bulls remain unconvinced below $2,770, sellers eye $2,220 break to regain control.
- RSI and MACD suggest a slow ETH/USD recovery, but a “Rising Wedge” pattern puts the upside at risk.
Ethereum (ETH/USD) price stays defensive around $2,600 during Tuesday’s European session. In doing so, the ETH/USD pair maintains the early-week rebound from the 200-day Exponential Moving Average (EMA) on the daily chart.
At the same time, the “Rising Wedge” bearish pattern on the four-hour chart keeps sellers on the lookout. That said, the above 50.0 readings from the 14-day Relative Strength Index (RSI) contrast with the mixed signals from the Moving Average Convergence Divergence (MACD) indicator to trouble the ETH traders after witnessing the biggest monthly gains since November 2024.
ETH/USD: Daily chart points to bullish consolidation
Source: Tradingview
ETH is testing its pullback from a three-month-old ascending resistance line near $2,770 but holds the early-week rebound from the 200-day EMA of around $2,460. The pair’s rebound is supported by the RSI readings above 50 and easing bearish MACD signals, suggesting ETH/USD could continue rising toward the multi-day resistance near $2,770. That said, May’s high near $2,790 is another key level bulls must break to gain control.
If successful, Ethereum could quickly rally toward the late February peak near $2,855—and possibly the psychological $3,000 mark.
On the downside, ETH sellers need a break below the 200-day EMA at $2,460 to gain momentum. After that, the 100-day EMA near $2,296 could test bears before prices head toward a four-month-old horizontal support zone between $2,150 and $2,100.
ETH/USD: Four-hour chart signals bumpy road for sellers
Source: Tradingview
A three-week-old “Rising Wedge” bearish pattern between $2,475 and $2,770, along with repeated failures to break a multi-month resistance line, keeps bears hopeful despite the recent rebound in ETH/USD.
However, RSI above 50, bullish MACD signals, trading above the 200-bar EMA at $2,395, and an upward-sloping support line from early April near $2,220, all challenge the sellers.
For sellers to regain control, ETH must clearly break below $2,220 to target lower supports.
Meanwhile, Ethereum buyers are closer to breaking $2,770, which could spark a rally toward the $3,000 psychological level, making the upside case stronger.
Overall, Ethereum bulls likely to hold near-term control despite resistance and bearish patterns limiting upside. Still, caution is needed until clear bullish signals confirm a sustained rally.
