Major Technical Divergence Emerges on the Ethereum Chart as Price Holds but Buying Pressure Fades

Ethereum has reclaimed a major historical support level near $2,516, but a worrying divergence is emerging. While the price appears stable, key momentum indicators and declining trading activity suggest the asset may struggle to maintain upward pressure in the short term.

At press time, ETH traded at approximately $2,530, recovering from a recent intraday high. This price action puts the market at a critical crossroads, with analysts watching to see if support can hold in the face of weakening underlying strength.

Ethereum Is Holding a Historically Critical Support Level

According to a chart shared by market analyst Rekt Capital, Ethereum has once again affirmed $2,516 as a crucial support level.

Historical data since 2021 show this price zone acting repeatedly as a key point for major directional moves. ETH’s latest recovery from sub-$2,000 levels earlier in 2025 has brought the asset back above this key threshold.

Previous interactions at this level have preceded rallies toward $4,000, but Ethereum now faces resistance near $2,750. This zone has consistently acted as a ceiling during earlier attempts to advance. A breakout above this barrier could open the way to $3,900, a level last approached in early 2024. If the asset fails to hold the $2,516 zone, possible support may reappear around $2,200 or into the broader accumulation area between $1,500 and $1,800.

Related: Will Ethereum’s Record 17M Weekly Users Push ETH to a New All-Time High?

Key Momentum Indicators Are Flashing Warning Signs

While the price is holding support, technical data shows early signs of a bearish divergence. The Relative Strength Index (RSI 14) has dropped to 49.54, falling below the neutral 50 level. This suggests reduced buyer strength after multiple weeks of price activity above $2,600. The RSI had reached above 60 in recent sessions, but the retreat signals a shift in market momentum.

Source: TradingView

The MACD indicator also reflects a decline in bullish pressure. The MACD line currently stands at 59.04, while the signal line is higher at 75.34, producing a negative histogram reading of -16.30. This bearish crossover typically indicates that selling activity is overtaking buying interest.

Related: Ethereum Price Drops 10%, But On-Chain Data Shows Whales Know Something Big

At the time of writing, Ethereum’s price was up by 0.58%, reaching $2,533.82. However, daily trading volume dropped by 45.66% to $21.6 billion. This decline in volume contrasts with the price rebound and may signal weakening short-term conviction.