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Ethereum is trading slightly above the $2,000 level as the market continues to 
navigate a period of uncertainty marked by sideways price action and cautious 
investor sentiment. After weeks of volatility across the broader 
cryptocurrency sector, ETH has entered a consolidation phase, with buyers and 
sellers struggling to establish a clear directional trend. Related Reading: 
TRON Joins Agentic AI Foundation As AI Systems Move Toward Real-World 
Deployment While price action appears relatively stable on the surface, new 
on-chain analysis suggests that underlying liquidity conditions may be 
shifting. According to a report from CryptoQuant analyst Arab Chain, 
Ethereum’s Scarcity Index on Binance currently sits around 0.67 while ETH 
trades near $2,050. The Scarcity Index measures the balance between available 
supply and demand pressure on a given exchange. A positive reading indicates 
that the amount of Ethereum available for trading on the platform has fallen 
below its historical average, reflecting tightening liquidity conditions. A 
value of 0.67 places the indicator firmly in positive territory, signaling a 
moderate degree of supply scarcity on Binance compared to previous market 
conditions. In practical terms, this suggests that part of Ethereum’s 
circulating supply may be moving off exchanges or remaining inactive in long- 
term holdings. Although the reading does not yet indicate extreme scarcity, it 
reveals that the supply balance is gradually shifting toward tighter market 
conditions as the market consolidates. Ethereum Scarcity Index Suggests 
Gradual Supply Tightening The report further explains that positive readings 
in the Scarcity Index reflect structural changes in the balance between 
available supply and market demand on exchanges. When the index moves into 
positive territory, it indicates that the amount of Ethereum available for 
trading on the platform is lower than its historical average, or that net 
flows are gradually moving out of the exchange. Both dynamics reduce available 
liquidity in the order book. Under these conditions, markets tend to become 
more sensitive to incoming demand. When supply on exchanges declines, large 
buy orders have a greater impact on price because fewer tokens remain readily 
available to absorb new demand. However, the current reading of 0.67 suggests 
that the market is experiencing moderate scarcity rather than extreme supply 
tightening. Compared with previous periods where the indicator reached much 
higher levels, the present value indicates that liquidity remains relatively 
stable even as supply conditions begin to shift. This places Ethereum in a 
transitional phase. The balance between supply and demand appears slightly 
tilted in favor of buyers, but not to the extent that it would immediately 
trigger sharp price movements. In practical terms, the data may indicate that 
some investors are withdrawing Ethereum from exchanges or holding assets off- 
platform, behavior typically associated with longer-term holding strategies 
rather than active trading. Related Reading: XRP Trading Interest Fades: 
Exchange Transactions Fall To Historic Lows Ethereum Stabilizes Near $2,000 
After Sharp Selloff Ethereum is currently trading around the $2,000 level 
after experiencing a sharp correction that unfolded earlier this year. The 
daily chart shows ETH attempting to stabilize following a rapid decline that 
pushed the asset from above $3,200 down toward the $1,800 region in February. 
That move triggered a brief capitulation phase, marked by a large spike in 
trading volume and a long lower wick that signaled aggressive buying interest 
near the lows. Since then, price action has transitioned into a consolidation 
phase between roughly $1,900 and $2,100. This range suggests that the market 
is attempting to establish a short-term equilibrium after the strong selling 
pressure that dominated the previous weeks. Related Reading: Altcoins Approach 
Historic Stress Levels as 38% of Tokens Near All-Time Lows Despite the recent 
stabilization, the broader trend remains under pressure. Ethereum continues to 
trade below its key moving averages, including the 50-day and 100-day trends, 
which are both sloping downward and currently act as dynamic resistance zones 
above the market. The long-term 200-day moving average remains significantly 
higher near the $3,300 area, highlighting the magnitude of the earlier 
breakdown. For bullish momentum to regain strength, ETH would likely need to 
reclaim the $2,200–$2,400 region, where previous support levels turned into 
resistance. Until then, the chart suggests Ethereum may remain locked in a 
consolidation phase while the market searches for clearer directional 
momentum. Featured image from ChatGPT, chart from TradingView.com

The $2,050 Pivot: Ethereum Scarcity Index Turns Positive As Binance Supply Tightens

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Ethereum price started a recovery wave above the $2,020 zone. ETH is now 
struggling to clear $2,080 and remains at risk of another decline in the near 
term. Ethereum started a recovery wave above the $2,020 zone. The price is 
trading above $2,020 and the 100-hourly Simple Moving Average. There is a 
declining channel forming with support at $2,000 on the hourly chart of 
ETH/USD (data feed via Kraken). The pair could start a fresh decline if it 
stays below the $2,080 zone. Ethereum Price Faces Key Resistance Ethereum 
price extended its recovery wave after it cleared the $1,965 zone, like 
Bitcoin. ETH price was able to clear the $2,000 resistance zone. The bulls 
pushed the price above the 50% Fib retracement level of the downward move from 
the $2,200 swing high to the $1,912 low. The price even spiked above $2,050 
but faced sellers near $2,090. The bears protected more gains and pushed the 
price below $2,050. Ethereum price is now trading above $2,000 and the 
100-hourly Simple Moving Average. There is also a declining channel forming 
with support at $2,000 on the hourly chart of ETH/USD. If the bulls remain in 
action above $2,000, the price could attempt another increase. Immediate 
resistance is seen near the $2,055 level. The first key resistance is near the 
$2,080 level or the 61.8% Fib retracement level of the downward move from the 
$2,200 swing high to the $1,912 low. The next major resistance is near the 
$2,135 level. A clear move above the $2,135 resistance might send the price 
toward the $2,150 resistance. An upside break above the $2,150 region might 
call for more gains in the coming days. In the stated case, Ether could rise 
toward the $2,200 resistance zone or even $2,220 in the near term. Downside 
Continuation In ETH? If Ethereum fails to clear the $2,050 resistance, it 
could start a fresh decline. Initial support on the downside is near the 
$2,000 level. The first major support sits near the $1,980 zone. A clear move 
below the $1,980 support might push the price toward the $1,910 support. Any 
more losses might send the price toward the $1,880 region. The main support 
could be $1,840. Technical Indicators Hourly MACD – The MACD for ETH/USD is 
gaining momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH/USD is now 
below the 50 zone. Major Support Level – $1,980 Major Resistance Level – 
$2,080

Ethereum Price Struggles Near Highs — Reversal Risk Rising

Bitcoin price failed to extend its recovery wave above the $70,500 zone. BTC 
is now consolidating and might decline again below $68,500. Bitcoin started a 
decent recovery wave above the $68,500 zone. The price is trading above 
$68,650 and the 100 hourly simple moving average. There is a key declining 
channel or a possible bullish flag forming with support at $68,400 on the 
hourly chart of the BTC/USD pair (data feed from Kraken). The pair might dip 
again if it trades below the $68,400 and $68,000 levels. Bitcoin Price Faces 
Key Resistance Bitcoin price remained elevated and extended its increase above 
the $68,800 level. BTC climbed above the $69,500 and $70,000 resistance 
levels. The bulls pushed the price above the 61.8% Fib retracement level of 
the downward move from the $74,062 swing high to the $65,645 low. However, the 
bears are still active near $71,200. The price failed to extend gains and 
started a bearish wave below $70,000. Bitcoin is now trading above $68,800 and 
the 100 hourly simple moving average. There is also a key declining channel or 
a possible bullish flag forming with support at $68,400 on the hourly chart of 
the BTC/USD pair. If the price remains stable above $68,400, it could attempt 
a fresh increase. Immediate resistance is near the $70,000 level. The first 
key resistance is near the $70,500 level. A close above the $70,500 resistance 
might send the price further higher. In the stated case, the price could rise 
and test the $71,200 resistance. Any more gains might send the price toward 
the $72,000 level or the 76.4% Fib retracement level of the downward move from 
the $74,062 swing high to the $65,646 low. The next barrier for the bulls 
could be $72,650. More Downside In BTC? If Bitcoin fails to rise above the 
$70,500 resistance zone, it could start another decline. Immediate support is 
near the $68,800 level. The first major support is near the $68,400 level. The 
next support is now near the $68,000 zone. Any more losses might send the 
price toward the $67,250 support in the near term. The main support now sits 
at $66,500, below which BTC might struggle to recover in the near term. 
Technical indicators: Hourly MACD – The MACD is now gaining pace in the 
bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is 
now below the 50 level. Major Support Levels – $68,400, followed by $68,000. 
Major Resistance Levels – $70,500 and $71,200.

Cryptocurrency price in INR