Overview
- ETH pulls back toward the $2,000 area after reaching $2,136, with price action contained below the $2,110–$2,120 resistance zone.
- A bearish trendline near $2,110 and the 100-hour simple moving average limit upside as the MACD loses bearish momentum and the RSI stays below 50.
- Intraday trading compresses into a roughly $1,980–$2,120 band centered near a short-term equilibrium around $2,050.
- A break below $2,000 would open $1,880 followed by $1,750–$1,720, while reclaiming $2,200–$2,240 could target $2,350 to $2,550.
- Elevated turnover and steady network activity coincide with ETF and derivatives swings, whale transfers to exchanges, and Bitcoin weakness, as Santiment’s MVRV nears historically significant bands.