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Ethereum is under pressure after failing to break above the $1,874 high set on May 1st, a level that now acts as stiff resistance. As the broader crypto market begins to heat up, Ethereum remains stuck in a tight range, lacking the momentum to confirm a breakout. Currently trading just above $1,800, $ETH sits at a critical level where bulls must step in to defend the structure and push the price higher.
Despite several attempts, Ethereum has been unable to establish a clear direction, and market participants are growing cautious. The asset is still down over 55% from its December highs, reflecting a prolonged period of weakness relative to other major cryptocurrencies. Without a strong push through resistance, Ethereum risks falling further behind.
Top crypto investor Michael Van de Poppe recently shared a technical analysis suggesting that Ethereum is still in an accumulation phase. According to Van de Poppe, $ETH shows signs of strength and accumulation against $BTC in the background, but needs confirmation through a decisive breakout above current levels. Until then, Ethereum remains range-bound and vulnerable to volatility. With market sentiment shifting and major moves looming, the coming days will be crucial for $ETH’s short-term outlook.
Ethereum Accumulation: $ETH/$BTC Chart Hints At Imminent Move
Ethereum continues to struggle below the $2,000 mark, failing to reclaim key resistance levels despite broader market activity heating up. While $ETH/USD remains directionless and still trades over 55% below its December highs, a closer look at the $ETH/$BTC chart reveals something more constructive brewing beneath the surface.
Van de Poppe recently shared an analysis highlighting a clear accumulation structure forming in the $ETH/$BTC pair. After months of consistent downside, the chart shows Ethereum breaking out of a falling wedge and consolidating in a tight range just below critical resistance at 0.0195 $BTC. According to Van de Poppe, this is a classic accumulation pattern, signaling that Ethereum may be preparing for a significant breakout relative to Bitcoin.
The chart also highlights a key demand zone around 0.0184 $BTC—an area $ETH has repeatedly held. As long as this level holds, Van de Poppe believes Ethereum could continue to grind higher and eventually take out liquidity above resistance. A successful breakout could mark the start of Ethereum outperforming Bitcoin, a trend often seen during the altcoin expansion phase of a bull market.
However, risks remain. The broader market is still heavily influenced by macroeconomic uncertainty, particularly surrounding U.S.-China tensions. For now, Ethereum’s upside case depends on holding current support and clearing the 0.0195 $BTC resistance. If successful, this accumulation may become the base for a strong rally.
$ETH Price Consolidates In A Tight Range
Ethereum is currently trading at $1,795.79 after a slight rejection from the $1,874 local high reached on May 1st. The daily chart shows $ETH consolidating in a tight range following its rebound from April’s lows near $1,500. However, despite this stabilization, $ETH remains well below both the 200-day simple moving average (SMA) at $2,709.54 and the 200-day exponential moving average (EMA) at $2,437.55—indicating that the broader trend is still bearish.
While bulls have managed to prevent further downside, Ethereum has yet to break out of its long-term downtrend. The failure to reclaim $2,000 as support continues to cap bullish momentum, and volume has remained modest during recent price action, showing a lack of conviction from both buyers and sellers.
The structure currently favors accumulation, but $ETH must decisively clear the $1,875–$2,000 resistance area to shift sentiment and validate a trend reversal. If it fails to do so, the risk of a renewed pullback toward the $1,650–$1,700 support zone increases.
Overall, Ethereum is at a pivotal stage. The longer it consolidates below major moving averages, the more likely the market remains cautious. A breakout above $2,000 could trigger renewed upside and signal broader market strength.
Featured image from Dall-E, chart from TradingView