OversoldSignals

🧠 Ethereum Drops Below $1,800 — Oversold or More Pain Ahead?

📆 Date: April 6, 2025

🕒 Timeframe: 1D (Daily Chart)

🔍 Source: TradingView | ETH/USDT (Binance)

📉 Ethereum has broken below $1,800, now trading around $1,720, marking a significant downtrend continuation. The price is testing levels not seen since mid-2023.

🔹 MACD Analysis:

The MACD is deep in bearish territory:

MACD Line: -100.79

Signal Line: -59.70

Histogram: still red

This confirms strong downside momentum and no signs of reversal just yet.

🔹 RSI (Relative Strength Index):

RSI is hovering around 26, officially in the oversold zone. This indicates that a potential bounce is possible, but price action hasn’t shown any real strength yet.

🔹 Key Support: $1,700 – immediate level

🔹 Next Major Support: $1,500 zone

🔹 Resistance to Watch: $2,000 psychological and previous support-turned-resistance

📌 Key Insights:

ETH is currently oversold, and short-term relief might be on the cards.

But technical indicators suggest trend momentum remains bearish, and bulls need to reclaim at least $1,850–$2,000 to shift the structure.

Long-term holders may be eyeing accumulation zones, but intraday traders should tread with caution.

⚠️ Watch Closely:

Any bounce from the $1,700 level could spark a relief rally — but failure to hold here could send ETH into a deeper retracement zone.

RSI divergence + oversold readings = monitor for reversal signals.

🧠 “Sometimes, the deepest dips hide the strongest setups.”

🕯️ Stay alert. Stay updated. Stay with CryptoPulsee.

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