$ETH The daily structure remains capped by a layered resistance

The daily chart reinforces a cautious tone. ETH remains below its 20, 50, 100, and 200-day exponential moving averages, all of which act as overlapping resistance. The 20-day exponential moving average, close to $3,087, has capped every bounce since late November, while the 50-day exponential moving average, around $3,260, sets the upper limit of the corrective structure.

The 100 and 200-day EMAs clustered above $3,430 highlight the extent of recent technical damage. Until ETH can recover at least the 20-day EMA on a closing basis, upward attempts are likely to remain vulnerable to rejection.

Momentum indicators align with this assessment. The daily RSI fluctuates around 40%, signaling weak momentum without reaching deeply oversold territory. This suggests that selling pressure has eased but is not yet completely exhausted. The absence of bullish divergence implies that ETH may need more time in consolidation before buyers regain confidence.

Shorter-term charts show a repair, not a reversal

On lower time frames, the 30-minute chart highlights the shift from trend to repair. The collapse of the $3,150-$3,180 zone has decisively flipped the super trend to bearish and triggered a rapid cascade down to $2,900. This movement effectively eliminated leverage rather than creating disorderly sales.

While ETH has since stabilized and modestly rebounded, the underlying trend remains capped near $2,975, and the parabolic SAR points continue to lag above the price, maintaining the corrective nature of the bounces. Buyers step in to defend prices, but not enough to regain control.