🛑 Critical Short-Term Bearish Momentum
From Binance “CRITICAL UPDATE” today:
ETH dropped to $2,423.16 (–3.8%), breaking below key EMAs (7, 25, 99) and dipping to a 24‑hour low of $2,367.36 .
RSI(6) ~29.9 (oversold), StochRSI ~3 — highest probability of short-term reversal .
Support zones:
**$2,367** (24h low)
**$2,283** (structural)
**$2,127** (2024 low)
Resistance levels:
**$2,439** (swing high)
**$2,489** (EMA7)
**$2,569** (recent peak)
Short-term outlook (12–24h):
70% chance of retesting $2,367; below that could reach $2,282.
If it rebounds above support, a bounce toward $2,438 is possible .
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📈 Mid-Week Outlook: Mixed Signals
June 19 analysis by SHARP_TRADER:
Price at $2,520, below EMA7/25 (bearish short-term), but still above EMA99 (uptrend intact) .
MACD histogram at –25 (bearish), RSI(6)=40 (neutral).
Signals lean bearish unless ETH reclaims EMA7 (~2,546) .
June 16 setup:
Snapshot at $2,572: Above EMA25 (2,553) but below EMA7 (2,589). Structure: higher lows at $2,492 .
Trade plan:
Intraday long on dips ($2,555–2,560), target $2,575–2,590.
Short on resistance $2,575–2,578, target $2,555–2,540 .
Swing: breakout above $2,582 for target up to $2,650; or short loss of EMA25 to $2,492 .
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🔍 Macro & Technical Context
FXStreet: Sideways consolidation (~$2,420), increase in exchange inflows (~72,000 ETH), but structural demand holds. ETH nearing triangle apex—potential breakout point .
CCN: After 66% drop, ETH rallied $1,383 → ~2,880) but now trading inside ascending channel. A breakdown beneath channel could spark another leg down .
Crypto.news: ETH consolidating between $2,518–2,568. Bullish scenario above 38.2% Fib (~$2,568) targeting $2,607 and $2,647; bearish under ~$2,518 aiming for $2,440–2,300 .
TipRanks: Mixed indicators; MACD is bullish, but moving averages signal a short-sell bias. Pivot: neutral-hold .
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🧩 Trade Plan & Strategy
Short-Term (12–48 hrs)
Play the bounce: Oversold RSI/stoch signals signal potential short-term bounce off $2,367–2,383. Entry near support; target swing resistance at ~$2,440.
Caution near resistance: If price nears EMA7 (~2,489) with low volume, consider fading toward $2,430–2,400.
Swing (2–7 days)
Bullish scenario: Sustained break above ~$2,568–2,575 (38.2% Fib/EMA resistance) could lead to $2,607–2,650 .
Bearish path: Rejection below $2,367 may test $2,283–2,300 levels, aligning with structural supports .
Risk Management
Stop-losses just below support (~$2,360 for longs, $2,585 for shorts).
Position sizing: Limit to 1–2% of capital per trade.
Monitor volume: Rising volume on breakout supports trend; low volume suggests a false move.
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✅ Summary
ETH is in a critical zone with deeply oversold conditions but lingering bearish pressure. The near-term view favors a bounce from $2,367–2,383. Medium-term trend hinges on reclaiming $2,568; otherwise, downside risk remains to $2,283–2,300.
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