Ethereum holds its ground under heavy shadows across multiple timeframes after missing those key resistance zones again.
The asset snapped below a multi-month bullish setup on the daily while staying trapped inside a descending channel on the four-hour view.
Sentiment readings show aggressive buyers staying mostly silent for now.
Ethereum Price Analysis: The Daily Chart
On the daily frame eth sliced right through the big ascending triangle built from february into may.
The break came after repeated pushes back from the two-point-four-k resistance that lines up with a thick supply zone and the old breakout spot.
Price slipped beneath the hundred-day moving average sitting near two-point-two-k.
Even worse eth sits far below the falling two-hundred-day average around two-point-five-k which keeps the bigger trend leaning bearish.
That fresh rejection at two-point-four-k locks it in as the main ceiling for now.
Until eth climbs back above that level any bounce risks staying just a corrective wiggle rather than a real reversal.
Downside the next big support waits near one-point-eight-k marked by the blue demand zone and the february low.
A daily close under the two-k mental level could speed things toward that zone.
Momentum stays soft too with the rsi lingering near oversold which hints at ongoing bearish pressure even after the recent pause around two-k.
Eth/Usdt Four-Hour Chart
The four-hour view shows a clean descending channel steering price lower all through may.
Eth keeps gliding toward the lower edge again after failing to hold any real bounce from the mid-range resistance.
Price hovers around two-k which acts as a strong demand pocket right now.
That zone sparked a small reaction yet buyers still need to deliver a solid reversal print.
First resistance sits at the channel top plus the horizontal supply around two-point-one-five-k.
Beyond that the bigger ceiling lives at two-point-two-five-k then the upper supply near two-point-four-k.
A clean break above the channel might spark a quick relief run toward those two-point-one-five-k and two-point-two-five-k spots.
While the channel holds the path of least resistance still points downward.
Dropping under the two-k support would open the door to the lower channel line and raise odds of a deeper slide into the one-point-eight-k area seen on the daily.
Sentiment Analysis
The ethereum taker buy sell ratio gives extra color on current vibes.
This metric tracks the tug between aggressive buyers and sellers across venues.
Levels above one point zero signal buyer strength while anything below hints sellers are winning the order flow.
The chart paints a steady drop in the ratio lately sitting near zero-point-nine-eight just under the neutral mark.
That shows sellers still control the tape even after eth’s long grind lower.
For any lasting bounce traders probably want the ratio to reclaim and hold above one point zero.
Until then order flow keeps suggesting bullish energy stays capped and rallies may keep meeting fresh supply.
