<ul data-eligibleForWebStory="true"><li>Ethereum is currently in a consolidation phase after a recent rally, with the price fluctuating between key levels around $2,700-$2,800.</li><li>On-chain fundamentals like exchange reserves indicate potential structural shifts and hint at upcoming volatility for Ethereum.</li><li>Technical analysis shows that ETH is within an ascending channel, facing resistance at the $2,800 mark. Bulls are still in control for now, but momentum is weakening.</li><li>The 4-hour chart reveals that ETH is consolidating below the $2,700-$2,800 supply zone, with the RSI around 52. A break above this level could signal a move towards $3,000.</li><li>Ethereum's exchange reserves continue to decrease, indicating coins are being withdrawn for self-custody, staking, or storage. This suggests long-term holder confidence and a potential supply squeeze scenario.</li></ul>

Ethereum Price Analysis: ETH Consolidation Continues as Bullish Momentum Starts to Fade

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