- Ethereum Price Expectations: Ethereum's price is trending downward after rejection at the 20-day Exponential Moving Average

Ethereum experienced liquidations totaling $81.4 million over the past 24 hours, with long positions accounting for $65.5 million, according to Coinglass data.

On the daily chart, Ethereum's price (ETH) remains below the 20-day Exponential Moving Average (EMA), near $2045, maintaining a broader bearish structure despite a rebound from last week’s lows. The daily Relative Strength Index (RSI) has fallen toward 39 after recovering from oversold territory, indicating a slowdown in bearish momentum but not yet turning into bullish pressure. The Stochastic (Stoch) has reversed from overbought levels seen earlier this week, reinforcing the view that the recent rebound is a correction within a dominant downtrend.

Daily chart of ETH/USDT

Immediate resistance is at $2108, where the 20-day EMA converges with a horizontal ceiling, followed by $2389 and then $2746. A daily close above $2108 is needed to weaken the current downtrend and open the way toward higher resistance levels. On the downside, initial support is at $1741, followed by $1524, with a deeper extension revealing support further down at around $1405. As long as the price remains below $2108, any rallies will face selling pressure, signaling a risk of returning to lower support levels.

On the weekly chart, the short-term bias remains bearish as the price stays below the 20-week Exponential Moving Average, which is above $2800 and confirms the maturation of the downtrend from the $4700 region.

Weekly chart of ETH/USDT

The weekly Relative Strength Index hovers near 32 and remains below the midline 50, indicating ongoing bearish momentum rather than a fade in oversold conditions, while the Stochastic remains low in the early twenties, suggesting weak buying interest after the recent decline.
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