Ethereum (ETHUSD) Displays Renewed Downward Momentum After Structural Breakdown

ETHUSD displays renewed downward momentum after structural breakdown. Ethereum has invalidated its short-term ascending structure following a sharp breakdown below the previous trendline support. Price is currently hovering around $2,430 after retesting this breakdown point, failing to sustain above $2,510 and forming bearish rejection wicks. The market structure is now clearly shifting toward a series of lower highs and lower lows, affirming a technical reversal from the late May bullish rally.

Looking forward, the price action suggests ETHUSD is likely to retrace further toward the $1,880 demand zone, marked by a previous order block and liquidity cluster. A clean break below the intermediate support at $2,150 would accelerate this move, exposing Ethereum to the $1,870–$1,800 region, where buying interest may re-emerge. Until price reclaims and consolidates above $2,510, the bears are expected to retain directional control, with rallies likely to be sold into.

ETH Key Levels

Supply Levels: $2860, $3160, $3530
Demand Levels: $2150, $1880, $1380

What are the indicators saying?

The current trajectory of ETHUSD reflects a distinct bearish sentiment, reinforced by confluence across technical indicators and price structure. The 9-day Simple Moving Average (SMA) is sloping downward and currently rests above the price around $2,450, indicating sustained selling pressure. The Moving Average Convergence Divergence (MACD) indicator shows widening negative histogram bars with both signal and MACD lines positioned below the zero axis. This alignment confirms that the recent breakdown was not an anomaly but part of a broader directional shift.

 

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