The ETH/USDT chart on a 1-day timeframe reveals key technical indicators signaling potential price action. Ethereum is trading at $1,773.48, down 1.90% in 24 hours, with a recent drop from $2,104.11. The 7-day, 25-day, and 99-day moving averages (MA) are at $1,696.38, $1,663.39, and $2,301.06, respectively. The price is below the MA(99), indicating a long-term bearish trend, but above the shorter MAs, suggesting short-term support. Volume is steady at 146.04M, with MA(5) and MA(10) at 642.31M and 507.41M, reflecting declining trading activity. The MACD shows a bearish crossover (DIF: -28.05, DEA: -68.44, MACD: 40.39), hinting at weakening momentum. However, the price is testing a support level around $1,773, with potential to rebound if buying volume increases. Traders should watch for a break above the MA(99) for bullish confirmation or a drop below $1,722.90 (24h low) for further downside.
