Ethereum Rejected at $2,111 as Market Enters Consolidation

[nihalsari]

Ethereum briefly pushed above the $2,111 resistance level but quickly lost momentum as sellers drove the price back down. The rejection sent the asset below its 20-day exponential moving average near $2,032, suggesting that bullish momentum remains fragile and that traders are hesitant to sustain higher prices.

For now, Ethereum appears likely to trade in a broader consolidation range between $1,750 and $2,200. A strong rebound and break above the 50-day simple moving average near $2,328 would signal weakening selling pressure and could open the door for a move toward $2,600. Until then, the market may continue moving sideways while investors wait for stronger direction.

[ed]

the market rn feels like everyone is waiting for someone else to make the first move

[madtrader]

ngl a break above $2328 would actually look pretty bullish.

[JanEmil]

In 3 years we go up again