#ETHTrendWatch #ETHTrendWatch | Ethereum Market Outlook: Range Consolidation Continues

Ethereum is currently trading near $2,989, remaining inside a broad consolidation range that has defined price action over the past month. Momentum remains neutral, with recent price behavior suggesting stabilization rather than trend continuation.
Market Structure
Over the last 30 days, ETH has posted a moderate gain of approximately 5.8%, fluctuating between $2,700 and $3,300. Price remains near the midpoint of this range, indicating balance between buyers and sellers rather than directional dominance.

Key Technical Zones
• Major Support: $2,700–$2,850
• Immediate Balance Zone: Around $3,015 (daily pivot)
• Key Resistance: $3,080–$3,200
As long as ETH remains capped below the $3,080–$3,200 region, upside moves are likely to be corrective within the range rather than the start of a sustained bullish trend.
Moving Average Context
Short-term averages are converging near current price, while medium-term averages remain slightly overhead. Long-term averages continue to sit well above spot price, confirming that ETH has not yet reclaimed broader trend strength.
Momentum & Liquidity
RSI readings across short-, medium-, and longer-term periods are clustered in the mid-40s to low-50s, reflecting neutral momentum. MACD has shifted slightly positive on the histogram, signaling slowing bearish pressure but not a confirmed reversal. Trading volumes remain stable and healthy, without signs of capitulation or speculative excess.
Scenario Outlook
• Holding above $2,850–$2,900 keeps ETH positioned for continued range trading and potential upside attempts.
• A sustained break above $3,200 with expanding volume would be required to shift the outlook bullish.
• A loss of $2,800 would increase the probability of a deeper retest toward the $2,700 demand zone.
Conclusion
Ethereum remains in a phase of broad consolidation following prior volatility. The current structure favors patience and level-based trading strategies rather than trend chasing. A decisive directional move will likely require a clear catalyst supported by volume expansion.
$ETH