$ETH
💰"Ethereum at a Crossroads: Will Bulls Break Free or Face Another Rejection?"❓
Ethereum experienced $77.86 million in futures liquidations in the past 24 hours, per Coinglass data. The total amount of long and short liquidations is $43.16 million and $34.69 million, respectively.
$ETH bounced off the $1,522 support level last Friday and is on the verge of tackling a key descending trendline resistance extending from March 25. A failure to move above the trendline could strengthen its resistance, potentially prompting increased sell orders whenever ETH's price approaches it. Such a move could send ETH to test the $1,522 support.
However, if ETH overcomes this resistance, it faces another key hurdle at the upper boundary of a four-month descending channel.
The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are aiming to test their neutral level lines. A firm crossover to the upper side indicates rising bullish momentum.
