Ethereum's price is currently trading around $2,750, following a period of stability and consolidation that lasted several weeks above the $2,400 level. The overall market structure is showing positive signs, with Ethereum now testing key resistance levels. The reaction at these levels will be a crucial turning point in determining whether the upward trend will extend to the next major supply zone.
Daily chart analysis: Significant structural improvement
The daily chart reveals a clear improvement in the technical structure since hitting a low near $1,500 last June. Ethereum's price has successfully formed a series of higher lows along an ascending trendline, with trading decisively holding above the 100-day and 200-day moving averages.
Golden cross supports the upward trend
The average was recorded
The 100-day and 200-day moving averages formed a bullish crossover around the $2.1 thousand area.
These averages are currently trending upwards, reflecting a positive shift in the market structure after months of correction.
After recovering to levels of $2.4 thousand, Ethereum's growth accelerated towards the resistance zone at $2.8 thousand.
If the currency manages to close above this area daily, the next target will be the major resistance zone around $3,000. Conversely, any price rejection from current levels could lead to a retest of the support zone at $2,400.
Reading indicators on a 4-hour timeframe
The four-hour timeframe offers a more accurate view of the current situation, showing Ethereum's price surge from $2,400 to $2,800 before entering a period of sideways consolidation. The market has repeatedly stabilized above $2,600, forming short-term bottoms that are gradually pushing the price towards the upper limits of the range.
The Relative Strength Index (RSI) on this timeframe is pointing to a value close to 60, which means that momentum is tilted in favor of the upside, with additional room for further gains before reaching overbought zones.
Real-time data analysis and Coinbase platform premium index
According to data from CryptoQuant, the Coinbase Premium Index currently stands at approximately -0.03. This index remaining below zero indicates that Ethereum is trading at a discount on Coinbase compared to global markets, reflecting relatively weak buying pressure from US investors.
This discrepancy creates a gap between the bullish technical structure and immediate demand signals. While the charts maintain a bullish outlook, the market needs this indicator to return to positive territory to confirm the strength of the breakout above $2,800. Historically, strong upward phases in Ethereum's price have typically been associated with a sustained positive premium on major US exchanges.
Technical summary for traders
Ethereum remains stable above key daily support levels, continuing its upward trend. The $2.800 resistance zone is the immediate technical pivot point, while the $2.400 to $2.500 area represents key near-term support. Price action at these levels will provide the clearest indication of whether the current consolidation will lead to a new upward move or a deeper correction.
