ETHUSDT: Pressure Builds, Bears Comes Back
Ethereum remains trapped inside a broad sideways structure, but the short-term picture is beginning to lean bearish. After the earlier decline from the $2,780–$2,800 area, ETH has repeatedly failed to build sustained momentum above the upper half of the range.
Price is now trading near $2,674 and has slipped below both short-term EMAs around $2,686. The latest rejection from the $2,720–$2,740 area also reinforces the idea that sellers are still defending rallies.
The Range Is Still Controlling Price
The important structure remains roughly $2,640–$2,725.
ETH has spent several sessions rotating inside this zone without establishing a clear bullish breakout. With price now moving back below the EMA cluster, the lower boundary near $2,640 becomes the natural short-term objective.
A move toward that level would still be consistent with range behavior rather than necessarily confirming a larger breakdown.
Macro Context
The broader environment also gives the bearish scenario some support. U.S. Treasury yields remain close to multi-decade highs, while the dollar has strengthened through September. Fed Governor Michael Barr also said further rate hikes are likely to be needed to contain inflation. Elevated yields and tighter financial conditions generally create a more difficult backdrop for higher-beta crypto assets such as ETH.
Trade Idea
Bias: Bearish inside the range
Resistance: $2,685–$2,700
Main target: $2,640.29
Invalidation: Sustained H1 recovery above approximately $2,720–$2,740
source https://www.tradingview.com/chart/ETHUSDT/WJzNcGnh-ETHUSDT-Pressure-Builds-Bears-Comes-Back/
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