- Ethereum Price Outlook: Ethereum may rebound from the short-term support level at $1911.

Ethereum's network experienced liquidations of $121 million over the past 24 hours, driven by long buy position liquidations totaling $102.5 million, according to Coinglass data.

On the daily chart, Ethereum is trading at $1981. The short-term trend has turned slightly bearish as the price fell below the 20-day exponential moving average, while the 50-day and 100-day EMAs, converging above $2180 and $2430 respectively, confirm a broader correction phase.

Momentum has waned, with the Relative Strength Index (RSI) heading toward the low forties, and the Stochastic (Stoch) indicator reaching oversold levels, indicating ongoing downward pressure but also suggesting potential rebounds to cover short positions. The recent failure to hold gains above the $2100 level, reinforced by declining trading volumes after the previous rally, highlights seller dominance in the current wave.

Daily ETH/USDT Chart
Immediate resistance is at $2108, followed by a stronger support at $2389, where the higher EMAs converge above the resistance level, reinforcing supply. A daily close above $2108 would ease immediate pressure and open the door for a rebound toward $2389. On the downside, initial support is at $1911, followed by $1741, which is above secondary support levels at $1524 and $1405.

Breaking below $1741 would confirm the continuation of the prevailing bearish trend and reveal lower support levels, while staying above this level maintains the broader accumulation phase within the long-term structure.
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