š Current Technical Situation
According to the daily technical summary from several sources: for ETH, the signal is currently neutral ā mixed.
ETH has previously experienced a decline from the high zone (~ US$4,600) down to below US$3,000, then forming a āhigher-lowā near the area of ~ US$2,800.
Currently, ETH is attempting a recovery ā but is still ātrappedā below the descending trendline and below long-term moving averages (100-day & 200-day).
For a bullish continuation, ETH needs to break through the critical resistance zone around US$3,400ā3,500.
If it fails to break through resistance and there is no bullish confirmation (daily/weekly close above resistance), the market structure can still be considered bearish or at least sideways.
š Bullish vs Bearish Scenario for ETH
š¢ Bullish Scenario š“ Bearish / Neutral Scenario
- ETH successfully breaks & closes above US$3,400ā3,500 ā could open the way to higher targets (around US$4,000 and above). <br>- Recovery from āhigher-lowā provides a foundation for an uptrend if volume supports it. <br>- If medium-term support must be maintained, the chances of a rebound are quite high. - Price remains below resistance & long-term moving average ā medium-term trend remains bearish or sideways. <br>- If it fails to break resistance and a rejection occurs ā it could return to the support range (~US$2.8kā3.0k). <br>- The market could stagnate if volatility is low & there are no major catalysts.
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What Should Be Monitored (Key Signals)
1. Can ETH break and close daily/weekly above US$3,400ā3,500.
2. Trading volume & liquidity ā is there real ābuying interest,ā not just small speculations.
3. Support in the area around the low levels (~US$2.8kā3.0k) ā if broken, volatility & risk levels will increase significantly.
4. Indicators ā long-term moving averages, trendline, as well as bearish vs bullish signals (MACD, RSI, etc).
$ETH #ETH #trendline