ETHSupportLevels
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$ETH breaking dumping hard, losing key Trendline support!!
The next major support zone is $2000-$1800, potential bounce area.
But no bullish bias until it reclaims its position above the trendline. Watch closely! 👀
#ETHSupportLevels
#AltSeasonComing
The next major support zone is $2000-$1800, potential bounce area.
But no bullish bias until it reclaims its position above the trendline. Watch closely! 👀
#ETHSupportLevels
#AltSeasonComing
$ETH
Ethereum has been facing increasing pressure as it continues its downward correction from the $2,800 mark. Currently trading below $2,700 and struggling beneath the 100-hourly simple moving average, ETH is at risk of gaining bearish momentum. A critical support level sits at $2,650—should this level be breached, the price could face further decline.
After Ethereum's recent failed attempt to break above the $2,800 resistance, the price has dropped below key support levels, including $2,720 and $2,750. This move also saw a dip below the 50% Fibonacci retracement level, adding to the bearish sentiment. ETH is now encountering support near the 76.4% Fibonacci level of its prior move, but resistance at $2,680 remains significant. If Ethereum can regain strength above $2,700 and push past the $2,720 resistance, a possible upward momentum may follow.
However, the downside risks remain intact. If Ethereum fails to break above $2,720, the next major support areas could come into play, starting at $2,655. A further drop below the $2,615 mark could signal a more significant decline, potentially pushing the price towards the $2,550 or $2,500 levels in the near term. Key support lies at $2,440, and a break below this zone could prompt more bearish action.
For now, Ethereum’s technical indicators are signaling growing bearish momentum, with the MACD showing increased strength in the negative zone and the RSI falling below 50. Traders should watch these levels closely, as a break below the major support could trigger further selling pressure.
Key Levels to Watch:
Support: $2,650, $2,615, $2,550
Resistance: $2,720, $2,780, $2,800
#Ethereum #ETHPriceAnalysis #CryptoMarket #ETHSupportLevels
Ethereum has been facing increasing pressure as it continues its downward correction from the $2,800 mark. Currently trading below $2,700 and struggling beneath the 100-hourly simple moving average, ETH is at risk of gaining bearish momentum. A critical support level sits at $2,650—should this level be breached, the price could face further decline.
After Ethereum's recent failed attempt to break above the $2,800 resistance, the price has dropped below key support levels, including $2,720 and $2,750. This move also saw a dip below the 50% Fibonacci retracement level, adding to the bearish sentiment. ETH is now encountering support near the 76.4% Fibonacci level of its prior move, but resistance at $2,680 remains significant. If Ethereum can regain strength above $2,700 and push past the $2,720 resistance, a possible upward momentum may follow.
However, the downside risks remain intact. If Ethereum fails to break above $2,720, the next major support areas could come into play, starting at $2,655. A further drop below the $2,615 mark could signal a more significant decline, potentially pushing the price towards the $2,550 or $2,500 levels in the near term. Key support lies at $2,440, and a break below this zone could prompt more bearish action.
For now, Ethereum’s technical indicators are signaling growing bearish momentum, with the MACD showing increased strength in the negative zone and the RSI falling below 50. Traders should watch these levels closely, as a break below the major support could trigger further selling pressure.
Key Levels to Watch:
Support: $2,650, $2,615, $2,550
Resistance: $2,720, $2,780, $2,800
#Ethereum #ETHPriceAnalysis #CryptoMarket #ETHSupportLevels
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