🧠 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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