Ethereum hovers around $1,860 after rebounding from the major support zone near $1,500 in June. The price rejection at the 100-day moving average around $2,000 keeps the asset under pressure, with key resistances at $2,000 and $2,400. On the 4-hour chart, ETH forms higher lows and higher highs since early July, supported by a white bullish trendline, but a pullback toward $1,750 remains possible if this support breaks. The exchange supply ratio continues to decline, indicating shrinking available supply in the market. If ETH overcomes key technical resistances, this reduced available supply could support a broader recovery.
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