Ethereum Trapped Between Key EMAs, Poised for Breakout or Breakdown

  • Ethereum (ETH) is currently locked in a tight consolidation range, trading between the 100 and 200 exponential moving averages (EMAs) on the hourly chart. After rebounding from below $2,300 last week, ETH managed to reclaim the 100 EMA and briefly challenge the 200 EMA, but bullish momentum quickly faded.