Ethereum's price has been fluctuating without a clear direction, but it is currently facing critical support levels at the 100 and 200-day moving averages. The 4-hour chart shows a consolidation range where buying and selling pressure seem to be evenly matched, with a downward break leading to a stop at the $1.7K range and a resurgence of the bull's dominance leading to an attack on the $2.1K resistance region. On-chain analysis reveals an increasing number of profitable investors, providing a bullish sentiment across the market, but short-term corrections may occur due to growing selling pressure.