Ethereum Consolidates After The Selloff, But Resistance Still Holds Strong

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ethereum (ETH) is currently consolidating in a tight range following its recent selloff, demonstrating resilience by holding above key support zones. However, the price remains firmly capped by a descending trendline and structural resistance around the $3,400 level. While buyers defend the vital $2,905 low, the trendremains sideways until ETH can achieve a decisive close above the descending resistance to initiate the next major rally. ETH Attempts To Stabilize After The Selloff

According to a daily updatefrom CyrilXBT, Ethereum is attempting to form a base following its recent selloff, but the price remains capped below the 50-day EMA around $3,281. This level continues to act as a key barrier, keeping ETH from confirming a stronger recoveryfor now. Related Reading Ethereum Price Drifts Lower—Is $3,000 About to Be the Battleground? 20 hours ago

At the time of the update, ETH was trading near $3,131. On the downside, initial support sits around $3,050, while a broader demand zone between $2,750 and $2,900 remains the more significant area where buyersare expected to step in if selling pressure returns. On the upside, resistance is concentrated between $3,280 and $3,300, aligning closely with the 50-day EMA, which represents a clear “prove-it” level. Source: Chart from CyrilXBT on X

Looking ahead, a clean break and sustained hold above $3,300 could open the door for a move back toward the $3,500 area and beyond. However, failure to reclaim this resistancewould likely lead to choppy price action, with a possible retest of the $3,000 level and even a revisit of the $2,800 zone. Ethereum Trades Below Descending Trendline Resistance

Crypto analyst Kamile Uray revealedthat ETH is currently confined, moving persistently under a blue descending trendline. This trendline is acting as a significant diagonal resistance barrier, limiting the extent of ETH’s bullishbounces and keeping the short-term pressure tilted downward. Related Reading Ethereum Price Cooling Off: Healthy Consolidation or Momentum Fading? 6 days ago

Despite this overhead resistance, the analyst identified a critical supportstructure. Uray noted that the possibility of the upward movement continuing remains valid as long as the price stays above the rising black trendline and above the low established at $2,905. This confluence of support is crucial for maintaining the market’s current bullish bias.

If the blue descending trendline resistance is decisively broken, the subsequent rally is expected to target a series of higher resistance levels: $3,661, then $3,878, and finally $4,292. Kamile Uray synthesized the condition for the breakout, stating that the descending trendline will approximately be broken if ETH manages to achieve a daily close above the $3,400 level. Meanwhile, the key condition for expecting a continued upward movement is a close above $3,400 combined with the price successfully avoiding a close below the critical $2,905 low. ETH trading at $3,156 on the 1D chart | Source: ETHUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com