Ethereum is showing signs of exhaustion after multiple failed attempts to reclaim the $2,000 level, with the price facing a double rejection at the 100-day moving average near $1,950. The daily chart reveals a bearish shift as ETH continues to struggle below the descending channel’s upper boundary. A move back inside this channel could accelerate selling toward the $1,560–$1,640 demand zone.
On the 4-hour chart, ETH broke below an ascending trendline, removing short-term buyer control. Immediate support lies at $1,850–$1,870; a loss there would expose the $1,750–$1,790 region. Bulls must reclaim the $1,880–$1,910 supply zone to invalidate the bearish setup. Meanwhile, the Coinbase Premium Index remains negative, signaling weak institutional buying from the U.S., which historically heralds further downside vulnerability.
Separately, the ETH/BTC pair approaches a multi-month descending channel resistance that has capped every recovery since 2025. Analyst Alex Marzell notes that higher lows are forming inside the pattern, hinting at improving momentum, but a confirmed breakout is still absent. A breach of this trendline would suggest a shift in relative leadership and could trigger an altcoin rotation; failure would maintain Bitcoin’s dominance. As of writing, ETH/BTC sits directly below the barrier, leaving the near-term outlook hinging on this technical test.
