A favourable near-term perspective is maintained by the fact that the price of Ethereum is currently at $2,543 on Monday. This is because it continues to remain above the 50-day, 100-day, and 200-day exponential moving averages, which are located between around $2,307 and $2,505.
This positioning indicates that the overarching uptrend persists, despite a cooling of momentum, as evidenced by the RSI drifting toward a neutral 45 and the MACD staying negative and beneath its signal line, suggesting a reduction in bullish pressure rather than a clear trend reversal. On the optimistic side, initial opposition appears at the horizontal barrier close to 2,800, and it is followed by a stronger cap at 3,000, which is a place where selling activity may build if the recovery continues.
On the downside, immediate support is bolstered by the 50-day EMA at $2,505 and the horizontal level at $2,500, followed by the 100-day EMA around $2,351 and the 200-day EMA near $2,307; a sustained breach below this EMA band would reveal deeper support at $2,000 and subsequently at $1,385.
