ETH has reclaimed the 200-day moving average at $2,660, a key signal of potential trend reversal.
Price is nearing a critical resistance level that could shape Ethereum's direction in the coming weeks.
While price shows bullish signs, steady volume and unconfirmed MACD crossover suggest caution is still warranted.
Ethereum (ETH) passed an important technical test recently, reclaiming its 200-day moving average on its daily chart. The milestone, observed at the $2,660 level, was accompanied by a 3.4% daily appreciation in price, leaving ETH at $2,767.25 in the last session. The action has drawn the attention of technical analysts, particularly since it marks a potential shift in medium-term sentiment after a few months of range-bound and bearish price actions.
Daily MA200 Break Signals Technical Recovery
The reclaim of the daily 200-day moving average (MA200) is often considered a noteworthy event in trend analysis, signaling a potential return to bullish control when crossed from below. In Ethereum’s case, the recovery above this level has come after an extended downturn that began in early 2025, with the price structure consistently forming lower highs within a descending channel. That trend appears to have weakened following successive higher lows and the eventual breakout from the channel.
Analysts tracking the ETH/USDT currency pair have attributed this breakout to the strong rejection of lower levels of support around $2,675.92. The breakout occurred concurrently with a pattern of consolidation constructed between March and May when price movements were largely confined within contracting lines of resistance and support.
Resistance Levels Under Pressure
The next test for Ethereum lies at the $2,821.70 resistance zone, which has already been approached in recent sessions. This level has previously acted as a supply area, capping bullish advances earlier this year. Whether ETH can close above this resistance could set the tone for its trajectory heading into the latter half of June.
The price currently trades between the identified support of $2,675.92 and resistance at $2,821.70, forming a potential squeeze zone. Market participants are expected to closely monitor reactions in this range, especially if volume increases in the coming days.
Broader Momentum Indicators Still Mixed
Despite the recent move, momentum signals remain cautious. While the price increase and MA200 reclaim suggest bullish intent, broader indicators like volume and relative strength show more tempered optimism. The current Relative Strength Index (RSI) at 68.19 near neutral levels, and volume has remained steady, neither suggesting accumulation nor distribution.
Source: TradingView
Furthermore, the Moving Average Convergence Divergence (MACD) on the daily chart has just started to curve upward, indicating the early stages of possible momentum strengthening. A confirmed crossover would support the bullish case but has yet to fully form.
Ethereum Eyes Key Resistance at $2,821 as Momentum Builds
Looking ahead, Ethereum's ability to stay above the MA200 and challenge its resistance at $2,821.70 will likely determine the fate of its short-term trend. Rejection at this point could see it consolidate some more, but a breakthrough will pave the way for challenging higher price zones near $2,900. Market participants remain cautious but vigilant, as Ethereum's chart pattern suggests that momentum can increase if key levels are broken convincingly.
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Ethereum Breaks the Barrier: Bulls Eye $2,800 After MA200 Reclaim
ETH has reclaimed the 200-day moving average at $2,660, a key signal of potential trend reversal.
Price is nearing a critical resistance level that could shape Ethereum's direction in the coming weeks.
While price shows bullish signs, steady volume and unconfirmed MACD crossover suggest caution is still warranted.
Ethereum (ETH) passed an important technical test recently, reclaiming its 200-day moving average on its daily chart. The milestone, observed at the $2,660 level, was accompanied by a 3.4% daily appreciation in price, leaving ETH at $2,767.25 in the last session. The action has drawn the attention of technical analysts, particularly since it marks a potential shift in medium-term sentiment after a few months of range-bound and bearish price actions.
Daily MA200 Break Signals Technical Recovery
The reclaim of the daily 200-day moving average (MA200) is often considered a noteworthy event in trend analysis, signaling a potential return to bullish control when crossed from below. In Ethereum’s case, the recovery above this level has come after an extended downturn that began in early 2025, with the price structure consistently forming lower highs within a descending channel. That trend appears to have weakened following successive higher lows and the eventual breakout from the channel.
Analysts tracking the ETH/USDT currency pair have attributed this breakout to the strong rejection of lower levels of support around $2,675.92. The breakout occurred concurrently with a pattern of consolidation constructed between March and May when price movements were largely confined within contracting lines of resistance and support.
Resistance Levels Under Pressure
The next test for Ethereum lies at the $2,821.70 resistance zone, which has already been approached in recent sessions. This level has previously acted as a supply area, capping bullish advances earlier this year. Whether ETH can close above this resistance could set the tone for its trajectory heading into the latter half of June.
The price currently trades between the identified support of $2,675.92 and resistance at $2,821.70, forming a potential squeeze zone. Market participants are expected to closely monitor reactions in this range, especially if volume increases in the coming days.
Broader Momentum Indicators Still Mixed
Despite the recent move, momentum signals remain cautious. While the price increase and MA200 reclaim suggest bullish intent, broader indicators like volume and relative strength show more tempered optimism. The current Relative Strength Index (RSI) at 68.19 near neutral levels, and volume has remained steady, neither suggesting accumulation nor distribution.
Source: TradingView
Furthermore, the Moving Average Convergence Divergence (MACD) on the daily chart has just started to curve upward, indicating the early stages of possible momentum strengthening. A confirmed crossover would support the bullish case but has yet to fully form.
Ethereum Eyes Key Resistance at $2,821 as Momentum Builds
Looking ahead, Ethereum's ability to stay above the MA200 and challenge its resistance at $2,821.70 will likely determine the fate of its short-term trend. Rejection at this point could see it consolidate some more, but a breakthrough will pave the way for challenging higher price zones near $2,900. Market participants remain cautious but vigilant, as Ethereum's chart pattern suggests that momentum can increase if key levels are broken convincingly.