Ethereum Price Analysis: ETH Struggles Below $2.5K, Is a Deeper Pullback Coming?

Ethereum has entered a consolidation phase after a sharp recovery from the $1.5K area. The cryptocurrency is now trading slightly below $2.5K, holding relatively firm despite repeated tests of the upper end of its recent range. Meanwhile, exchange reserves continue to decline, pointing to a potentially constructive supply-side backdrop. Ethereum Price Analysis: The Daily Chart The daily structure has improved significantly over the past several weeks. ETH broke out of the prolonged base around the $1.9K zone and then reclaimed the $2.1K area, which had previously acted as major resistance. The breakout was particularly strong, with ETH moving almost vertically from roughly $1.9K toward $2.5K. The price has since established itself above the moving averages shown on the chart, with both the 100-day and 200-day moving averages turning upward. This shows that the broader trend is transitioning from recovery toward a potentially bullish structure. ETH is now trading inside a significant resistance zone around $2.4K-$2.5K, with the current price near $2.47K. The market has tested this area several times without a decisive daily breakout, making it the key level to watch. A sustained mov...