ETH Technical Outlook: Ethereum Consolidating Near Macro Base After Losing 0.236

Ethereum remains in a strong corrective downtrend after failing to sustain above the $3,349–$3,728 resistance cluster (0.5–0.618 Fibonacci zone).
The rejection from the upper structure led to a breakdown below 0.382 ($2,970) and later a decisive loss of 0.236 ($2,502), accelerating the decline toward macro support.
Price is now consolidating around $1,970–$2,050, just above the macro Fibonacci 0 level at $1,745, forming a short-term base after an aggressive selloff.
This zone is a major structural decision area.
EMA Structure (Strong Bearish Alignment)
20 EMA: $2,123
50 EMA: $2,471
100 EMA: $2,801
200 EMA: $3,049
ETH is trading below all major EMAs, confirming strong bearish alignment across short-, mid-, and long-term structure.
The $2,120–$2,470 zone (20 & 50 EMA cluster) now acts as immediate dynamic resistance.
Broader structural resistance remains between $2,800–$3,050.
Any upside move into these levels is likely corrective unless reclaimed with strong momentum and sustained daily closes above them.
Fibonacci & Price Structure
0.786 Fib: $4,267
0.618 Fib: $3,728
0.5 Fib: $3,349
0.382 Fib: $2,970
0.236 Fib: $2,502
Fib 0 (Macro Base): $1,745
ETH failed to hold above the 0.382–0.5 region and later broke below 0.236, confirming continuation of the bearish structure.
Current consolidation above $1,970 suggests temporary absorption of selling pressure.
A breakdown below $1,970 would expose ETH to the $1,745 macro base, while holding this zone could allow a relief bounce toward $2,120–$2,470 resistance.
RSI Momentum
RSI (14) is currently around 34–35, reflecting near-oversold conditions.
Momentum has stabilized slightly, but RSI remains below the 50 equilibrium level, meaning no confirmed bullish reversal yet.
📊 Key Levels
Resistance
$2,120–$2,470 (20 & 50 EMA cluster)
$2,502 (0.236 Fib)
$2,970 (0.382 Fib)
$3,349 (0.5 Fib)
Support
$1,970–$2,000 (local consolidation demand)
$1,745 (macro base / Fib 0)
RSI: 35 — weak / stabilizing
📌 Summary
Ethereum is consolidating just above macro support after a sharp corrective breakdown.
While downside momentum has slowed near $2,000, the broader structure remains bearish below $2,500–$2,800.
A sustained recovery requires ETH to reclaim $2,502 (0.236) and stabilize above the EMA cluster.
Failure to hold above $1,970 would likely trigger continuation toward the $1,745 macro base.
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