Ethereum is experiencing ongoing downward pressure across higher timeframes, with prices remaining significantly below critical moving averages within a dominant bearish trend. Though there was a rebound from February lows that stabilized ETH around $1,900, charts indicate that buyers are struggling to reclaim meaningful resistance, keeping the outlook cautious for the short term.

Ethereum Price Analysis: The Daily Chart

On the daily chart, ETH continues to trade under both the 100-day and 200-day moving averages, which remain in decline, affirming that the broader trend is bearish. The asset is also adhering to a descending structure established months ago, where every recovery attempt has ultimately failed to reach a significant point of trend reversal. Currently, the market is above the key support area around $1,800, which has served as the primary floor following a sharp sell-off in February.

Resistance levels remain capped at around $2,400, then $2,800. Despite ETH’s rebound from the local lows, the recovery appears weak and lacks strong momentum, indicating that sellers are still active on any rallies. Should the asset remain beneath the descending resistance, particularly under the $2,400 mark, the current movement looks more like a short-term relief rally within a larger downtrend rather than the initiation of a sustainable reversal.

ETH Daily Chart

ETH/USDT 4-Hour Chart

On the 4-hour chart, ETH recently tried to exceed the $2,150 resistance but faced quick rejection, leading to the formation of a lower local high, confirming this level as a significant ceiling in the near term. The RSI indicated an overbought condition during that rejection. The price has since drifted back toward the mid-range around $1,950, reflecting a lack of strong buying momentum following a failed breakout attempt. This keeps ETH in a narrow range, with $1,800 as the crucial support and $2,150 as immediate resistance.

A breakout below the support could open the doors for further declines, while reclaiming above $2,150 would signal that buyers are regaining control. For now, however, the structure favors bearish continuation unless buyers can mount a stronger comeback soon.

ETH 4H Chart

Sentiment Analysis

From a sentiment perspective, the Coinbase Premium Index remains a point of concern for Ethereum. While the index has begun recovering from deeply negative figures recorded in February, it still hovers near the neutral zone and has not demonstrated strong positive premiums indicative of robust demand from U.S. investors. This suggests that institutional and larger U.S. buyer interest remains cautious rather than decisive.

In summary, sentiment is no longer in absolute capitulation territory, yet it is also far from confirming bullish trends. The minor improvement in the premium index may support localized stabilization, but aggressive accumulation is not evident. Until this index firmly enters positive territory and maintains this status, sentiment is likely to remain neutral to slightly bearish, in line with the fragile technical structure.

Ethereum Coinbase Premium Index