Ethereum maintains a strong position near $2,571 with increasing support and limited resistance. Market sentiment turns greedy as breakout conditions become tighter.

The Ethereum price is currently consolidating just below a major resistance level, indicating a narrow consolidation phase. At the moment, Ethereum (ETH) is trading at $2,571.64, representing a 3.7% increase from the previous day. This level has drawn significant attention, with the chart displaying an ascending triangle pattern.

Price movement has narrowed within this structure, with buyers maintaining a higher low trend. Meanwhile, sellers are defending a consistent horizontal resistance line near $2,586.26. Such formations often precede price volatility, as compression builds pressure in either direction. Additionally, the Fear and Greed Index for Ethereum stands at 68, indicating a “Greed” sentiment among market participants.

Ethereum Trades in Tight Range with Rising Support

Currently, ETH remains confined between a support level at $2,479.53 and a resistance at $2,586.26. This narrow range reflects a period of reduced directional movement. The support has held through multiple retests, showing consistent buyer activity around this price.

At the same time, attempts to break above resistance have repeatedly failed. However, each failure has resulted in a slightly higher low. This ascending support trend reflects growing demand over time. Price has tested the resistance level several times, showing the area is being actively contested by both buyers and sellers.

Ethereum Forms Ascending Triangle as Volatility Tightens

The ongoing consolidation follows a strong upward price move from earlier in the month. That sharp rally now finds equilibrium in the form of an ascending triangle. The triangle’s structure includes a rising trendline support, which meets a horizontal resistance ceiling. This pattern typically compresses until a breakout occurs.

Notably, price action within this triangle has shown decreasing volatility. Candlesticks within this range are tighter, and trading volume appears to be declining. These characteristics often precede sharp price movement in either direction, as market imbalance increases.

Market Sentiment and Momentum Shift

Another contributing factor is market sentiment, as reflected by the Fear and Greed Index. Ethereum’s current sentiment score of 68 places it firmly in the “Greed” zone. This metric helps quantify trader psychology and can affect short-term momentum.

When the index remains elevated near these levels, buyers often continue to dominate. That said, price behavior near resistance will remain key. If buyers manage to reclaim levels above $2,586.26, momentum may accelerate further. For now, traders appear to be waiting for a confirmed move above or below the current range.