Crypto Blog
On a larger scale, Ethereum’s price has been declining, almost clearing all of its gains since the beginning of 2024.
On the daily chart, the asset has been consolidating in a wide range between the $2,100 and $2,700 levels as the drop has seemingly come to a halt. However, the market structure remains bearish, as the price should at least reclaim the $2,700 level to make a higher high. While the momentum is still weak, it could only be a matter of time before an impulsive move toward the $2,700 resistance level occurs, as the bullish 4-hour candles have been getting stronger recently.
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