- The Ethereum price stays bullish with the critical EMAs still intact, but rejection alerts suggest short-term profits may be taken soon.
- The ETH coin stays supported around the level of $2,400, but $2,529 resistance will determine further moves upwards.
- Coinbase experiences ETH selling allegations from Jesse Pollak.
The Ethereum price is trading near $2,440 after a sharp advance that pushed ETH from the $1,923 resistance area to recent highs between $2,529 and $2,550.
The move has left Ethereum above its major exponential moving averages while technical indicators continue to show strong upward momentum.
Despite this pullback from the highs seen recently, there have been indications that there is short-term profit-taking, as can be seen by the fact that RSI stands at 77.85.
On another note, there has been an entirely different discussion concerning the amount of ETH that Coinbase holds in the Ethereum network.
Base creator Jesse Pollak has disputed claims that Coinbase has been selling ETH, pointing instead to the company’s holdings and involvement in several Ethereum-related projects.
Ethereum Price Remains Above Major EMA Levels
The Ethereum price is currently positioned above all four EMAs on the 4-hour chart. The 20 EMA stands at $2,290, while the 50 EMA is at $2,118.8. The 100 EMA sits at $2,019.8, and the 200 EMA is at $1,947.1.
The positioning shows that ETH remains above each of the referenced moving-average levels after its advance. The 20 EMA is the nearest major technical level among the four. A decline toward $2,290 would therefore place the price against the first EMA support highlighted in the analysis.
The recent move also followed a breakout from $1,923. That level has become an important reference point if a deeper correction develops.
ETH is trading around $2,438 to $2,440 after reaching approximately $2,529 to $2,550. The pullback from those highs has not removed the broader bullish structure shown on the 4-hour chart.
Ethereum Price Faces Resistance Near $2,529
The immediate resistance area remains around $2,529, which was the recent high on the 4-hour setup. A move above the $2,500 to $2,529 region would place attention on the next technical levels.
Fibonacci extensions identify resistance around $2,618 to $2,628. The upper Bollinger Band is also positioned near $2,628.4, creating a closely aligned resistance area in the technical readings provided.
Source: Trading View
Bollinger middle band is currently placed at $2,265.3, whereas the lower band can be seen at the level of $1,902.3. The cryptocurrency is still substantially higher than the middle Bollinger band.
The 24-hour move also remains positive, with ETH trading at $2,440.81 and recording a 2.54% gain over the period referenced. Holding above $2,400 is identified as a level that could support another attempt toward $2,550.
RSI Signals Short-Term Overbought Conditions
Despite the upward structure, momentum indicators show that ETH has entered an overbought area. The 4-hour RSI is at 77.85 following the sharp rally.
The rise in RSI is linked with the rejection of the recent range of $2,529-$2,550. The situation is pointing towards the potential of a short-term consolidation or a corrective move in the ongoing structure.
A drop below $2,400 will impact the near-term outlook and make the 20 EMA at $2,290 important. A break below the $2,265.3 Bollinger middle band could indicate a deeper retracement. The $2,118.8 50 EMA is the next referenced EMA level below $2,290.
Coinbase ETH Holdings Draw Community Attention
The technical developments have occurred alongside a separate discussion about Coinbase’s relationship with Ethereum. Base creator Jesse Pollak has pushed back against criticism that the exchange has been selling ETH.
Pollak reportedly described Coinbase as the largest non-DAT holder of ETH by a significant margin. He cited Coinbase holdings of roughly 115,000 to 151,000 ETH.
The discussion followed questions from members of the Ethereum community about Coinbase’s relationship with the asset. Pollak argued that assessments of the company’s ETH position should also account for its involvement in Ethereum-related infrastructure.
He pointed to Base, USDC, EIP-4844 and ERC-4337 smart wallets among the company’s contributions. Pollak also stated that Coinbase had maintained substantial ETH holdings through multiple market cycles.
Ethereum Ecosystem Contributions Enter the Debate
Pollak reportedly urged Ethereum community members to avoid attacking major users and contributors. His comments came as the discussion focused on whether Coinbase’s ETH activity should be viewed separately from its broader involvement with Ethereum.
The dispute places Coinbase’s reported ETH holdings alongside its participation in infrastructure associated with the network. The information provided does not establish a specific amount of ETH sold by Coinbase.
The discussion therefore remains centered on two separate issues: Coinbase’s reported ETH holdings and the company’s broader involvement in Ethereum-related infrastructure.
FAQs
What is the current Ethereum price?
ETH is trading around $2,438 to $2,440 in the referenced market data.
What is Ethereum’s immediate resistance?
The immediate resistance area is around $2,529, with higher resistance identified between $2,618 and $2,628.
How much ETH does Coinbase reportedly hold?
Jesse Pollak cited roughly 115,000 to 151,000 ETH held by Coinbase.
