Ethereum has shown a bullish signal by bouncing off the 100-day moving average of $1791 and experiencing a price spike, but it has encountered a crucial resistance level that must be surpassed for another surge. The price has reached the upper boundary of a descending wedge pattern at $1.9K due to its recent surge and is on the verge of surpassing this critical level. The price is currently confined within a narrow range between $1791 and the static resistance zone of $2K, and a breakout from the wedge is likely to trigger another rally toward the $2K resistance zone. The Active Addresses metric has fallen into a downtrend during the recent consolidation phase, indicating a decrease in demand and a period of uncertainty among market participants.