Ethereum is trading at $1,692.81, but the path higher is blocked. Every major moving average now sits above the current price, forming a ceiling of overhead resistance. At the same time, taker sell volume is dominating buyers in real time, suggesting sellers are in control.
Overhead resistance stacked
The 50-day, 100-day, and 200-day moving averages are all above ETH’s current level. That stacking is a bearish technical signal — each average acts as a potential rejection zone if the price tries to rally. Traders often watch these levels for signs of trend shifts, but right now Ethereum hasn’t been able to reclaim any of them.
Taker sell volume dominates
Real-time data show taker sell volume outstripping buyer activity. Taker sells are aggressive market orders hitting the ask, pushing price down. When sellers consistently outpace buyers, it creates downward pressure that can accelerate losses. This imbalance is happening even as the broader crypto market tries to stabilize.
Long squeeze setup
The combination of overhead resistance and aggressive selling sets up the possibility of a long squeeze. If the price falls further, traders who bought expecting a bounce may be forced to sell, amplifying the move lower. The setup suggests a potential drop toward $1,618 — a level that hasn’t been tested since earlier this year. Whether that level holds will depend on whether buyers step in before the selling snowballs.
For now, Ethereum is caught in a zone where every attempt to rise meets selling pressure. The next few trading sessions will show whether $1,618 acts as support or if the sell-off deepens.
