On the daily chart the 20-day Exponential Moving Average (EMA) trends lower at $2,223 and it reinforces a bearish bias.
Holding below this level keeps the near-term tone pressured. The Relative Strength Index (RSI) at 33 stays below the midline showing weak momentum.
Immediate resistance is in line with $2,107 while support is seen at $1,741.
The rallies could stall before the 20-day EMA, leaving risk tilted toward the $1,741 support. On the upside a sustained close above the 20-day EMA could improve the structure. After that the $2,388 resistance would turn into the next resistance for buyers.
Also Read: Ethereum Trading Activity Slows as Volume Drops to Multi-Week Lows