$ETH /USD: Strong Bearish Bias 🔴👀 Ethereum's recent price action signals a potential downturn. Despite a brief recovery to the $2,500 level, ETH has struggled to maintain upward momentum. Analysts suggest that a local move down to $2,476.70 is likely in the near term...💥
Technical indicators support this bearish outlook:
🔻MACD: Bearish momentum is evident, with the histogram showing strong red bars and the signal line below zero.
🔻Stochastic RSI: Oversold conditions persist, indicating continued downward pressure.
While some analysts anticipate a bullish breakout above $2,600, the immediate trend suggests caution. 📉
Stay vigilant, traders! The market's current dynamics warrant a cautious approach. Monitor key support levels and adjust your strategies accordingly!
Buy and Trade $ETH