Ethereum has been rejected twice from its 100-day moving average near $1.95K, tilting the daily chart toward a bearish bias. A break below the four-hour ascending trendline and a persistently negative Coinbase Premium Index both point to weak buying pressure, leaving the token exposed if key support zones give way.
Ethereum's repeated failure to reclaim its 100-day moving average near $1.95K is tilting the daily chart toward a bearish bias. The token remains stuck inside a descending channel, where the upper boundary — marked by a white trendline — is now the most critical support for holding the recovery together.
Daily chart flags a deeper pullback
Bearish candles have emerged alongside the rejection from the 100-day moving average, a sign that buyers are losing momentum. If sellers push the price back inside the descending channel, that would confirm a bearish continuation and likely trigger a deeper decline toward the $1.56K to $1.64K demand zone.
Bulls, meanwhile, must first reclaim the $1.88K to $1.91K resistance area before attempting another move toward the 100-day MA near $1.95K.
Four-hour breakdown narrows support
The four-hour chart turned more bearish after Ethereum broke below its ascending trendline, signaling that buyers have lost short-term control. The first support now sits inside the $1.85K to $1.87K demand zone, where price is currently trying to stabilize.
Losing that zone would likely accelerate the decline toward the next major demand zone between $1.75K and $1.79K. On the other side, the $1.88K to $1.91K supply zone has become the primary threshold for buyers, and a successful reclaim there would invalidate the immediate bearish scenario.
Coinbase premium points to soft institutional demand
The Coinbase Premium Index remains in negative territory, showing Ethereum still trades at a discount on Coinbase relative to other major exchanges. That persistent negative premium suggests buying pressure from U.S.-based institutional participants remains relatively weak despite the recent recovery attempt.
Sustained positive readings have historically accompanied stronger bullish phases, while prolonged negative values often reflect cautious institutional sentiment. Until the premium returns to positive territory and remains there consistently, the rebound may struggle to turn into a sustained uptrend, leaving Ethereum vulnerable to additional downside if support levels fail.
Source: CryptoPotato
Trading involves risk.
Risk Disclaimer
