ETHUSD Faces Rejection Near Resistance Signaling Bearish Price Direction

ETHUSD faces rejection near resistance, signalling bearish price direction. From a price action perspective, ETHUSD has formed a bearish market structure after a Break Of Structure (BOS) and is now reacting to a Mitigation Block (MB) just below $1,850. Despite brief rallies, the price has struggled to break convincingly above this zone, suggesting strong supply and distribution. The repeated rejection near this key level and the formation of lower highs reinforce the bearish outlook. Support at $1,530 is now the next key area to watch for potential breakdown confirmation.

Given the prevailing signals, ETHUSD is likely to turn lower in the near term. A decisive break below $1,530 could trigger an accelerated move toward the next major support below $1,250. If bearish momentum intensifies, further decline toward $1,000 is also possible, especially if buyers fail to defend mid-level support. A sustained break above $1,850 would invalidate this bearish scenario and open up room toward $2,150.

ETH Key Levels

Supply Levels: $2150, $2860, $4110
Demand Levels: $1530, $1250, $880

What are the indicators saying?

On the daily chart, ETHUSD shows signs of weakening momentum as the price hovers near the 9-day Simple Moving Average (SMA), currently around $1,820. The Stochastic Oscillator is in the overbought region with a current reading of 77.16, suggesting that a downward reversal could be imminent. Momentum appears to be fading after repeated failures to establish new highs, indicating bearish pressure may soon dominate. The overextension in momentum indicators without a breakout hints at potential downside risk.

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