Buy The Deep
ETH/USDT is trading at $2,647.61, showing a significant 4.67% drop over the past 24 hours, indicating notable bearish pressure. The 24-hour high reached $2,784.83, while the low bottomed at $2,616.24, and the current price remains close to that low, suggesting weak buying support. ETH is trading below all key moving averages: the 7-day MA ($2,678.96), 25-day MA ($2,733.59), and 99-day MA ($2,694.90), signaling a strong downward momentum in both the short and medium term. The RSI is at 28.92, which places it in the oversold territory, implying a potential short-term rebound or at least a consolidation phase. Trading volume is elevated at 16.56M ETH, which aligns with the heavy selling observed. Over a longer timeframe, ETH has gained 36.79% over the past 90 days, but this is offset by a sharp -31.99% decline in the past 180 days and a -26.78% drop over the last year, revealing overall weakness in the medium to long-term trend. The recent bounce from the support at $2,616.24 might lead to a minor relief rally, but unless ETH can reclaim the $2,690–$2,735 resistance zone, the broader trend remains bearish.