Ethereum Faces Consolidation as Bulls Eye Key Resistance
Ethereum continues to trade within a narrow range near $1,636, with signs of consolidation emerging after recovering from a local dip. The RSI has climbed to 56.53, slightly above neutral, suggesting mild bullish momentum but no clear breakout. Volume remains relatively stable, with 24H trading volume hovering around $183 million, reinforcing the subdued volatility.
While Ether remains above short-term support near $1,600, bulls have yet to build strong momentum toward key resistance levels at $1,754 and $2,111. The current setup, with RSI trending flat and no decisive price action, reflects hesitation among both buyers and sellers.
Overall, Ethereum’s near-term trend remains neutral, with potential upside if volume increases and RSI breaks into overbought territory. A move below $1,600 could signal renewed bearish pressure, while reclaiming $1,754 would open the door for a broader recovery. For now, the market appears to be waiting for a clearer macro or technical trigger to define direction.