Ethereum Prices Remain Vulnerable Amidst Volatile Market Conditions

Ethereum's price movement has been characterized by a controlled downtrend, with market conditions remaining fragile. The fear & greed index sits in Extreme Fear (14), indicating that sentiment is extremely fearful across the digital asset space. This has led to Bitcoin dominance above 56%, confirming that capital is hiding in BTC rather than rotating into ETH or other altcoins.

On a daily chart, Ethereum's price is trading below all key EMAs, with a dominant bearish bias. The RSI (momentum) reading of 42.37 indicates that sellers still have the upper hand, but momentum is bearish and controlled. The MACD (trend momentum) is still negative, supporting the dominant downtrend.

Looking at the hourly chart, Ethereum's price is below all intraday EMAs and pivots, with short-term pressure from sellers. However, the RSI (hourly) reading of 38.2 confirms downside intraday pressure but not yet oversold conditions.