ETH Technical Outlook: Ethereum Holds Macro Demand Zone as Bearish Structure Remains Intact

Ethereum remains under corrective bearish pressure, trading below a broken macro trendline and inside a broader distribution range. After a strong rejection from the $4,450–$4,950 supply zone (0.786–1 Fib), ETH entered a sustained downtrend marked by lower highs and lower lows.

The bearish move accelerated once ETH lost the $4,060–$3,790 region (0.618–0.5 Fib), flipping a major support zone into resistance and confirming trend weakness.

EMA Structure (Bearish Alignment)

20 EMA – $2,983

50 EMA – $3,132

100 EMA – $3,343

200 EMA – $3,374

Price is trading below all major EMAs, with the 20 & 50 EMA acting as immediate dynamic resistance. The 100 & 200 EMA remain well overhead, reinforcing bearish dominance on the higher timeframe.

Fibonacci & Market Structure

1 Fib: $4,956 (macro top)

0.786 Fib: $4,456

0.618 Fib: $4,065

0.5 Fib: $3,789

0.382 Fib: $3,514

0.236 Fib: $3,174

Fib 0: $2,623 (major demand zone)

ETH is currently consolidating above the $2,620–$2,700 demand zone, a historically strong support area. Selling pressure has slowed here, increasing the probability of short-term range consolidation or a relief bounce, though the broader trend remains bearish.

RSI Momentum

RSI is around 44, showing weak momentum but early stabilization, consistent with base-building rather than capitulation.

📊 Key Levels

Resistance

$2,980–$3,130 (20–50 EMA zone)

$3,174 (0.236 Fib)

$3,514 (0.382 Fib)

$3,790–$4,060 (0.5–0.618 Fib)

Support

$2,620–$2,700 (major demand / Fib 0)

Below $2,620 → opens deeper downside risk

📌 Summary

Ethereum is holding a critical macro demand zone near $2,620, while the overall market structure remains bearish. Although momentum shows signs of stabilization, ETH must reclaim $3,170+ to shift short-term structure bullish. A failure to hold the $2,620 support would expose ETH to further downside.

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