$ETH Bearish Pressure – Watching $2,498 Support & $2,590 Reclaim
ETH dropped sharply from a 24h high of $2,734.23 to a low of $2,498.30, posting a -3.63% decline on the day. The 1H chart shows strong bearish momentum with high selling volume and MACD deep in negative territory.
Current Price: $2,549.53
Support Zone: $2,498 – $2,520
Immediate Resistance: $2,590 – $2,620
Key Downside Levels:
• TP1: $2,498
• TP2: $2,460 (next demand zone if breakdown continues)
Technical Indicators:
RSI (6) at 36.68 suggests ETH is nearing oversold, but not quite there.
MACD is deeply negative (DIF: -26.11, MACD: -7.90), confirming downside momentum.
Volume surged on the drop, but has since cooled, indicating potential stabilization or pause in selling.
Outlook:
Bearish short-term.
Watch for a break below $2,498 for more downside or a reclaim of $2,590 to signal a possible recovery.
Buy and trade $ETH now