Ethereum’s been stuck in a tight price range lately, leaving traders wondering what’s next.
Awaiting the Breakout
After a serious sell-off that pushed it below $2,000, Ethereum (ETH) is struggling to find its footing. It’s currently around $1,580, down about 21% from its peak. Both buyers and sellers seem hesitant, creating a period of intense uncertainty. Analyst Daan points out that the price has been incredibly stagnant for the past couple of days. This kind of consolidation often precedes a big price swing—either up or down—making it a crucial time for traders. Global economic worries, like trade tensions and monetary policy changes, are adding to the uncertainty and impacting investor confidence in risky assets like cryptocurrencies.
Macroeconomic Headwinds
The ongoing tension between the US and China is a major factor influencing the crypto market’s mood. Even though there’s been a temporary pause on some tariffs, the overall uncertainty is keeping investors on edge. This uncertainty translates to low volatility and a stalled Ethereum price. Daan suggests this “extreme compression” usually means a big price move is coming, but the direction is anyone’s guess.
Ethereum’s Next Move
Currently trading around $1,590, Ethereum is bouncing between support at $1,550 and resistance near $1,700. To gain some real momentum, ETH needs to break above its 200-day moving average and exponential moving average. A successful breakout could signal a recovery. However, the real test will be reclaiming the $2,000 mark—a significant psychological and technical hurdle. Breaking above this level would signal a major shift in market sentiment. On the other hand, falling below $1,550 could trigger a deeper correction. For now, it’s a waiting game to see if the bulls or bears will win.
