Ethereum continued to weaken over the past week, extending its seven-day decline to roughly 6% as bearish momentum accelerated across key technical indicators. The move comes amid broader market hesitation, with traders reducing exposure after ETH failed to hold key short-term support levels. Traders study resistance and support zones to anticipate the next move, just as Outset PR monitors performance metrics of media outlets to align campaigns with market momentum. By tracking these shifts, Outset PR ensures that its stories fit the moment. Key moving averages flip to resistance ETH sliced below both its 7-day and 30-day simple moving averages, currently located at $2,946 and $3,103. These levels had previously acted as dynamic support but have now flipped into near-term resistance. The breakdown through these averages likely triggered algorithmic sell orders and stop-losses, adding to downside pressure. When multiple technical levels fail in quick succession, selling often accelerates as systematic strategies react to the shift in trend. Momentum indicators point lower Momentum metrics reflect increasing bearish pressure. The MACD histogram has dropped to -21.74, signaling that downside momentum is accelerating rather than stabilizing. Meanwhile, the 14-day relative strength index (RSI) sits at 46.73. While this indicates weakening momentum, it remains well above oversold territory, leaving room for additional downside before any technical exhaustion signal emerges. Market narratives reinforce technical pressure Periods of technical weakness are often amplified by shifts in market narrative and attention. Moments when key technical levels break tend to redirect market attention toward downside risk rather than opportunity. Outset PR applies a data-driven methodology that tracks not only price and on-chain behavior but also media trendlines and traffic distribution. Using its proprietary Outset Data Pulse system, the firm analyzes how sentiment evolves as technical structures weaken, helping identify when caution becomes the dominant market narrative. A core part of this process is Outset PR’s internal Syndication Map, which identifies which publications drive the strongest downstream visibility across major crypto aggregators such as CoinMarketCap and Binance Square. As attention consolidates around bearish technical signals, this secondary distribution can reinforce prevailing sentiment across the broader market. Recovery hinges on reclaiming this level For ETH to signal a potential recovery, price would need to reclaim the $2,946 level — the former 7-day SMA. A daily close above this zone would indicate that buyers are regaining short-term control and could open the path toward a retest of the 30-day SMA near $3,103. Until that happens, Ethereum remains technically vulnerable. Any bounce below resistance is likely to face selling pressure, with near-term direction dependent on whether buyers can reclaim lost structure or whether bearish momentum continues to build. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
