Do you give up ETH to the next $ 2,000 as the momentum fades?

ETH continues to integrate below the main resistance level of about $ 2800, struggling to separate from the highest after a strong gathering earlier in May.

While the bulls retained the highest level in the short term, repeated rejection of the same level raises questions about the buyer’s condemnation in these highlands.

Technical analysis

Daily chart

ETHEREUM is currently being combined less than the main resistance at $ 2800, which is in line with the moving average for 200 days. The bullish trend that started near $ 1500 has stopped, and the relative strength index has decreased slightly to less than 70, which reflects a weakening bullish momentum.

Nevertheless, the price remains higher than a hundred days of Master and the previous penetration area near $ 2200, indicating that the structure remains upward unless these levels are lost. Clean decline above $ 2,800 will open the path towards the supply area, which ranges from 3,400 to $ 3,600. On the other hand, failure to do this can re -test the $ 2200 demand block.

The graph for 4 hours

The 4H graph shows that the price has formed a clear upward triangle between 2800 dollars resistance and support for about $ 2,500. The structure is similar to a possible distribution stage after two strong accumulations less than $ 1850 earlier this month. While ETH continues to put the lowest levels of higher levels, repeated rejection at high levels began to influence short -term expectations.

RSI is also hovering near 47, indicating the transformation of neutral momentum. The break is less than $ 2,500, and the lower limits of the pattern would indicate a declining reflection of about 2100 dollars, while the confirmed penetration of more than 2800 dollars would nullify the idea of ​​distribution and prefer the upcoming expansion.

Feelings Analysis

The Coinbase Premium index currently retains a little zero, indicating moderate demand from investors in the United States. Historically, the rising premium has often preceded the strong upward trends driven by buyers of institutional or high -level retail founders on Coinbase. Although the current levels are not strongly high, it reflects the inherent strength in the immediate market and the desire to pay a little more than ETH on American exchanges.

If this installment begins to expand while ETH is approaching the resistance again, it may indicate renewable confidence and the front operation of the penetration. On the other hand, if the installments vanished or turn into negative, it may indicate the delusional interest and a possible short -term summit, a scenario that apparently happens at the present time.

Therefore, if the demand decreases from the United States, it is very likely that ETH will enter into a correction stage again.