🚨 Caution..📢 $ETH Bearish Outlook: Key Levels to Watch 📉

The short-term chart for Ethereum ($ETH) is flashing several warning signs. While the long-term outlook may be positive, current technicals suggest traders should be cautious.

Here’s a quick breakdown of what I'm seeing:

* Stiff Resistance: ETH is consistently failing to break the crucial $3,200 resistance level, showing a lack of buying pressure.

* RSI Bearish Divergence: The daily RSI indicates weakening momentum, which often precedes a price drop.

* Looming Death Cross: The 50-day moving average is threatening to cross below the 200-day MA, a historically strong bearish signal.

* On-Chain Pressure: An increase in ETH moving to exchanges suggests potential selling pressure from large holders.

My Key Level:

A firm break below the $2,850 support could trigger a move towards $2,500. I'm staying on the sidelines until we see a decisive breakout or a confirmed bounce from major support.

Trade smart and manage your risk! What are your thoughts?

⚠️ Disclaimer: This is my personal analysis, not financial advice (NFA). The crypto market is highly volatile. Please do your own research (DYOR).

#Ethereum #TechnicalAnalysis #MarketUpdate #BinanceSquare #ETH🔥🔥🔥🔥🔥🔥