Ethereum is trading around $1.88K, trapped in a difficult consolidation phase with weak liquidity and subdued trading activity preventing either side from establishing control. The breakdown of the ascending trendline on the 4-hour chart represents an early bearish signal, with the next major support around $1.71K-$1.75K if the $1.80K-$1.84K zone fails. Large whale orders have disappeared and been replaced by normal-sized orders, a pattern similar to early May before a significant decline. The 100-day moving average near the $1.9K level remains a key threshold, and daily momentum continues to show a clear lack of conviction in the market.
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