• Ethereum’s steady rise is underpinned by a historical accumulation range between $2,400 and $2,800, where nearly 4 million ETH were acquired—creating a solid base for price resilience.
• The RSI at 43.04 and a bearish MACD crossover point to reduced short-term momentum, but no clear signs of a breakdown, keeping ETH in a controlled consolidation phase.
• ETH remains confined within a well-defined $224 range, with the $3,530.30 support and $3,754.29 resistance acting as key levels guiding short-term market direction.

Ethereum has been steadily gaining price with the asset presently trading at $3,626.77. In the past 24 hours, ETH has experienced a price rise of 1.7%. Its support range of between 2400 and 2800 has been critical in maintaining upper momentum. 

The bottom zone has traditionally been able to absorb downward pressure, leading to the market rebound above the sub-3,000 level. ETH is currently navigating a key structure, as technical indicators and on-chain data align near-term price behavior with historical accumulation zones.

Cost Basis Distribution Points to Strong Holder Presence

According to the ETH Cost Basis Distribution Heatmap, a substantial concentration of Ethereum’s circulating supply was acquired between $2,400 and $2,800. This band appears prominently in yellow and red on the chart, indicating higher wallet density at those levels. That accumulation cluster reflects nearly 4 million ETH held by market participants who entered at those prices.

Since late June, ETH has steadily moved above this accumulation zone. The black price trend line shows a notable price climb from early July, progressing from below $3,000 to over $3,600 by July 24. The support from previously accumulated addresses may have limited selling pressure during retracements. This layer of historical cost basis has consistently aligned with price resilience in recent months.

Technical Indicators Reveal Reduced Momentum but No Breakdown

Momentum indicators reflect reduced bullish strength without confirming a bearish reversal. The 1-hour RSI stands at 43.04, below the neutral 50 mark. This reading suggests declining buying pressure in the short term, though still within the range-bound pattern seen since early July. The MACD histogram shows a downward cross, with the signal line at 4.9 and the MACD line at -7.0, supporting a short-term pullback view.

Nevertheless, ETH is still above its hourly support at 3,530.30. The absence of extreme RSI levels suggests that panic or euphoria has, therefore, remained limited, which keeps volatility in check. These technical levels could keep influencing intra-day movements as Ethereum advances towards the $3,754.29 resistance.

Current Price Structure Retains Technical Clarity

The market structure of ETH is technical, although it has recently fluctuated. The price is within a range of 224; the price has its support at 3,530.30, and resistance at 3,754.29. 

They apply to short-term traders and can dictate breakout or consolidation in the short run. In sum, Ethereum holds firm above a key historical accumulation zone, while maintaining a defined structure on both the price and indicator fronts.