ETH warning remains as bearish structure despite recent relief

Ethereum remains under broad pressure on higher timeframes, with price still trading well below its key movers and within the dominant market structure. While the recent bounce back from the February lows has helped ETH stabilize around $1,900, the charts still show that buyers are struggling to recover any meaningful resistance, keeping the short-term outlook cautious for now.

Ethereum Price Analysis: Daily Chart

On the daily chart, ETH continues to trade below the 100-day and 200-day moving averages, which are still bearish, confirming that the broader trend remains bearish.

The asset also respects a bearish structure that has been in place for months, with every attempt at recovery failing to reach the correct point in the trend. The market is currently sitting just above the key blue support zone around $1,800, which emerged as a key floor after February’s sharp sell-off.

At the moment, the rising resistance level is limited at around $2400 and then $2800. Although ETH was able to bounce off local lows, the recovery was weak and lacked a strong continuation, indicating that sellers are still active in rallies.

As long as the asset remains below bearish resistance, and specifically below the $2,400 area, the current move looks more like a retracement of terrain within the broader trend than the start of a sustained pullback.

4-hour ETH/USDT chart

On the 4-hour chart, ETH recently pushed towards the $2,150 resistance area, but was quickly rejected, forming a local low, confirming that this level remains an important low in the short term. The RSI also printed an overbought signal near this rejection. Since then, the price has dropped to an average level of around $1,950, indicating a lack of aggressive buying interest after the breakout attempt.

This has ETH trapped in a relatively narrow short-term range, with $1,800 acting as key support and $2,150 as immediate resistance to a recovery.

A clean break below the lower boundary could open the door for the price to go deeper than the February lows, while a recovery from $2,150 would be the first signal that buyers are regaining control. However, for now, the 4-hour structure still supports consolidation to continue down, unless buyers are able to force a stronger pullback soon.

Sentiment analysis

In terms of sentiment, the Coinbase Premium Index is still a weak spot for Ethereum. Although the index has started to recover from the negative readings seen in February, it remains around the neutral line and has yet to show the appearance of a sustained positive premium, which points to strong demand from US investors. This suggests that institutional and larger US buying interest is still speculative rather than decisive.

In other words, the feeling is no longer in the territory of complete surrender, but it is far from a delicious affirmation. The improvement in the premium index is slightly constructive and may support the idea of ​​a local stabilization, but at the moment it does not point to aggressive accumulation. Until this metric moves firmly into positive territory and stays there, sentiment will remain neutral and slightly bearish in line with the still-vulnerable technical structure.