$ETH Bearish continuation within a broader corrective structure
On the daily chart, Ethereum ($ETH) remains under sustained bearish pressure after failing to reclaim its key moving averages. Price continues to trade below the 50, 100, and 200-day MAs, all of which are acting as dynamic resistance and reinforcing the prevailing downtrend. The rejection from the $3,300–$3,400 supply zone confirms that sellers are still firmly in control of the medium-term structure.
Recent price action shows a sequence of lower highs and weak bounce attempts, with momentum fading quickly on each rally. The breakdown below the $3,000 psychological level has shifted market sentiment further to the downside, while the current consolidation reflects hesitation rather than accumulation. This suggests the market is pausing before its next directional move instead of forming a base for reversal.
From a structural perspective, the current decline appears to be part of a broader corrective phase rather than a completed capitulation. As long as $ETH remains capped below the $3,200–$3,300 resistance band, downside risk toward the $2,700–$2,500 demand zone remains elevated. A meaningful trend shift would require a decisive daily close above the $3,400 level with strong volume to invalidate the bearish structure and signal renewed bullish control.