Ethereum remains in a broader corrective phase, trading below key moving averages and within a well-defined descending structure. While short-term stabilization is visible near the $1,750 to $1,800 support zone, the higher-timeframe trend still favors sellers. Key resistance is clustered between $2,300 and $2,400. On-chain data reveals a sharp spike in network activity, though price action has not confirmed a bullish reversal, leaving the market in a state of indecision.
Ethereum continues to trade in a corrective phase beneath key moving averages. The broader trend favors sellers unless major resistance levels are reclaimed with strong momentum.
On the daily timeframe, ETH respects a descending channel, forming lower highs beneath the 100-day and 200-day moving averages. The $2,300 to $2,400 region now acts as a key resistance cluster, and unless reclaimed, rallies are likely to be corrective.
The 4-hour chart shows ETH compressing inside a symmetrical triangle above the $1,800 horizontal support. A breakout above the $2,000 to $2,100 range would signal a short-term momentum shift toward higher resistance.
Active address data shows a sharp spike to multi-month highs, indicating heightened network activity. This divergence suggests that while engagement is rising, capital flows are not decisively pushing prices higher.
