Ethereum Hovers Below $3K, Bulls and Bears in Standoff

Ethereum's (ETH) price has been in a consolidation phase since February 2, trading below $3,000. Technical indicators such as RSI, DMI, and EMA suggest a lack of strong momentum, with neither buyers nor sellers taking full control. The narrowing gap between ETH's EMA lines hints at a potential shift, but the cryptocurrency must overcome key resistance levels to regain bullish momentum. If support levels fail to hold, a deeper correction toward $2,160 could be on the table.

Ethereum's Relative Strength Index (RSI) is currently at 54.2, staying neutral since February 3. RSI measures price momentum, with values between 30 and 70 indicating a balanced market. ETH has remained within this range, suggesting neither buyers nor sellers have taken control, and the cryptocurrency has yet to enter an overbought zone above 70 or an oversold zone below 30.

For ETH price to reach $3,000, the RSI would likely need to move toward 60 or higher, indicating increased buying pressure. A push above 70 could signal strong bullish momentum, helping ETH break key resistance levels.

Ethereum's Directional Movement Index (DMI) shows its Average Directional Index (ADX) at 11.8, steadily declining since February 12, when it was at 32.8. ADX measures trend strength, with values above 25 indicating a strong trend and below 20 suggesting a weak or no trend. The steady decline signals fading momentum, meaning ETH lacks a clear directional push.

ADX is part of the DMI, which also includes the +DI (positive directional indicator) and -DI (negative directional indicator). +DI is at 19.3, down from 25.2 two days ago, while -DI is at 17.2, down from 18.8. This suggests both bullish and bearish pressures are weakening. For ETH to regain $3,000, ADX would need to rise above 20, signaling stronger trend momentum, while +DI would have to climb above -DI with a wider gap, indicating renewed bullish strength.

Ethereum price has been trading between $2,