Ethereum News Today: Ethereum Surpasses Key Accumulation Zone, Hits 1.7% 24-Hour Gain as $3,754 Resistance Looms

Ethereum has maintained stability above a critical historical accumulation zone, with its price currently trading at $3,626.77, reflecting a 1.7% increase over the past 24 hours. The cryptocurrency has been consolidating within a defined $224 range, anchored by a support level at $3,530.30 and a resistance level at $3,754.29. This structured price movement highlights the influence of key technical levels in shaping near-term market dynamics. The accumulation zone between $2,400 and $2,800, where nearly 4 million ETH were historically acquired, has played a pivotal role in reinforcing upward momentum. This zone, marked by higher wallet density, has historically absorbed downward pressure, enabling ETH to rebound above the $3,000 threshold since late June [1].

Technical indicators suggest a slowdown in bullish momentum but no immediate bearish reversal. The 1-hour Relative Strength Index (RSI) stands at 43.04, below the neutral 50 threshold, indicating subdued buying pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram has recorded a downward cross, with the signal line at 4.9 and the MACD line at -7.0, signaling a potential short-term pullback. However, Ethereum remains above its hourly support level of $3,530.30, and the absence of extreme RSI readings suggests market sentiment remains balanced, curbing volatility [2].

The price trajectory since early July has demonstrated a steady climb from below $3,000 to over $3,600 by July 24. This upward trend aligns with on-chain data showing reduced selling pressure during retracements, as holders who acquired ETH between $2,400 and $2,800 appear less inclined to offload assets. The accumulation zone’s influence extends beyond historical price behavior, as it continues to underpin resilience in the face of market fluctuations.

Ethereum’s current structure remains technically defined, with the $3,754.29 resistance level posing a critical test for short-term traders. Breakthroughs above this threshold could signal a shift in momentum, while a failure to surpass it might trigger a consolidation phase. Analysts emphasize that the market’s adherence to this structured range reflects disciplined trading behavior, as neither extreme euphoria nor panic has materialized [3].

The interplay between historical accumulation zones and real-time technical indicators underscores Ethereum’s ability to balance growth with controlled volatility. As the asset approaches its next resistance level, traders will closely monitor whether on-chain activity and sentiment align with a potential breakout or continued consolidation.

Source: [1] [Ethereum Steadies Above Accumulation Zone as $3,754 Resistance Looms] [https://cryptonewsland.com/ethereum-steadies-above-accumulation-zone-as-3754-resistance-looms/]

[2] [Ethereum Steadies Above Accumulation Zone as $3,754 Resistance Looms] [https://cryptonewsland.com/ethereum-steadies-above-accumulation-zone-as-3754-resistance-looms/]

[3] [Ethereum Steadies Above Accumulation Zone as $3,754 Resistance Looms] [https://cryptonewsland.com/ethereum-steadies-above-accumulation-zone-as-3754-resistance-looms/]