$ETH /USD Daily Chart Analysis – ⚠️ Bearish Momentum with Short-Term Reversal Signs

Current Price: $1,561.14 (-6.45%)

Daily Range: High: $1,668.80 – Low: $1,556.16

🔹 Key Technical Insights:

Trend & Price Action:

✅ ETH has experienced a significant decline of -6.45% today, indicating strong bearish momentum.

✅ Price has broken below key support levels, and the trend remains downward.

✅ The expanding Bollinger Bands signal increasing volatility, suggesting potential for further downside.

Moving Averages (MA):

❌ SMA 5, 10, 20, 50 → All Bearish → Indicating a strong continuation of the downtrend.

Momentum Indicators:

RSI (D: 35.7, 15: 33.63, 60: 23.4, 240: 48.34) → Oversold levels ⚠️

Stochastic RSI: Bullish crossover → Potential short-term upward move ✅

MACD: Bearish crossover → Ongoing bearish pressure ✅

ADX: Bearish crossover → Confirming weak trend strength ⚠️

MFI (Money Flow Index): Bearish range → Selling pressure continues ⚠️

VWAP: Downtrend → Suggests sustained downward market pressure ✅

📉 Support & 📈 Resistance Levels:

📈 Resistance: $1,668.80, $1,750.00, $1,800.00

📉 Support: $1,550.00, $1,500.00, $1,400.00

⚠️ Outlook & Trading Plan:

✅ Bearish Scenario: A break below $1,550 could lead to further declines toward $1,500 - $1,400.

⚠️ Bullish Reversal: A strong breakout above $1,668.80 could signal a potential short-term reversal.

📢 Conclusion:

ETH/USD is in a strong downtrend, with bearish signals from moving averages, MACD, and MFI. However, the Stochastic RSI indicates a potential short-term reversal. Watch for a potential bounce off support levels or further downside continuation. Keep an eye on the $1,550 support for signs of a breakout.

#ETH #Crypto #Trading #TechnicalAnalysis ⚠️