Ethereum Price Nears Critical 100-Day SMA – Will It Break Through?
Ethereum (ETH) has been on a slow and steady upward trajectory, inching closer to a crucial technical indicator: the 100-day Simple Moving Average (SMA). This level is more than just a line on a chart—it’s a key battleground for bulls and bears, often dictating the next major move. As ETH approaches this critical resistance, speculations on whether this could catalyze a sustained rally or a stumbling block that triggers a pullback arise.
The 100-day SMA is a widely followed indicator that reflects the medium-term trend, and its significance cannot be overstated. For Ethereum, breaking above this level could reignite bullish sentiment, paving the way for higher price targets. On the flip side, a rejection might lead to further consolidation or even a retest of lower support levels
Ethereum Price Struggles: Can Bulls Gain Momentum?
Ethereum has been facing a tough battle as it slowly climbs toward the 100-day SMA. Despite attempts at recovery, the price has struggled to gain strong upside movement, with resistance levels capping its moves. Buyers have shown interest at key support zones, preventing further declines, but a lack of sustained volume and conviction has kept ETH from breaking higher.
The MACD indicator hints at a potential momentum shift in Ethereum’s price action. While the MACD and signal lines have crossed and are approaching the zero line, a confirmed bullish crossover is still lacking. Additionally, the narrowing histogram suggests a transition from bearish to neutral or bullish, but further confirmation is needed for a sustained upward move.
For Ethereum to sustain a bullish move, the MACD line and signal line need to rise above average, accompanied by expanding histogram bars in the positive zone. If this occurs, it could strengthen upward momentum. However, failure to achieve a breakout leaves Ethereum vulnerable to consolidation or a downside move.
What A Successful Breakout Means
A breakout above the 100-day SMA would serve as a strong bullish confirmation for Ethereum, signaling renewed upward momentum and shifting market sentiment in favor of buyers. This move would suggest that Ethereum has overcome a key technical barrier, potentially attracting more investors and traders looking to capitalize on the uptrend.
Ethereum could set its sights on the $2,160 resistance level if the breakout is sustained with increased volume and strong follow-through. A successful push above this level may increase the likelihood of more price appreciation toward other resistance levels, such as $2,858 and $3,360.
However, if Ethereum fails to achieve a breakout above the key resistance level, it could face renewed selling pressure, leading to a fresh decline toward the $1,523 support zone. This level has historically acted as a key demand area, where buyers might attempt to prevent further downside.
