Are you watching Ethereum closely? What are your thoughts on its recent movements? Let's dive into today’s analysis to find out if ETH can regain momentum.
Technical Overview:
4-hour chart: Ethereum is consolidating around $3,294 after hitting a daily low of $3,269. Immediate resistance is at $3,300, with stronger resistance near $3,366. Downside support is evident at $3,260.
Daily chart: ETH shows a decline in momentum, with RSI at 47.36, signaling neutral territory. MACD is slightly bearish, and Stochastic RSI suggests oversold conditions.
Key Levels:
Resistance: $3,300 and $3,366
Support: $3,260 and $3,200
Market Sentiment: Volume remains moderate, indicating indecision among buyers and sellers. Ethereum needs a significant catalyst to break out of this range. Traders should closely monitor Bitcoin's movement and upcoming macroeconomic data, which could influence the broader market.
What’s your strategy for Ethereum today? Are you bullish or bearish? Share your thoughts below!
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