Ethereum has entered a consolidation phase after a sharp recovery from the $1.5K area.
The cryptocurrency is now trading slightly below $2.5K, holding relatively firm despite repeated tests of the upper end of its recent range. Meanwhile, exchange reserves continue to decline, pointing to a potentially constructive supply-side backdrop.
Ethereum Price Analysis: The Daily Chart
The daily structure has improved significantly over the past several weeks. ETH broke out of the prolonged base around the $1.9K zone and then reclaimed the $2.1K area, which had previously acted as major resistance.
The breakout was particularly strong, with ETH moving almost vertically from roughly $1.9K toward $2.5K. The price has since established itself above the moving averages shown on the chart, with both the 100-day and 200-day moving averages turning upward. This shows that the broader trend is transitioning from recovery toward a potentially bullish structure.
ETH is now trading inside a significant re
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