Ethereum Technical Analysis: MACD Flips Bearish, $3,675 Support in Sight
1. š Price Drop: ETH is down -3.61% in the last 24 hours.
2. š° Current Price: Trading at 3,888.57 USDT.
3. š» Bearish Momentum: MACD has a bearish crossover (DIF is below DEA).
4. š§ Major Resistance: Price is currently below the cluster of Moving Averages (MA7, MA25, MA99) around $3,900 - $4,000.
5. ā¬ļø Short-Term Trend: Price is below the short-term MA(7) (3,895.75), confirming short-term pressure.
6. š© RSI Weakness: Short-term RSI(6) is at 37.23, approaching oversold territory and confirming selling pressure.
7. š”ļø Key Support: The primary defense area is the low of 3,674.50.
8. š Downside Watch: Traders are watching the 24h low of 3,840.24.
9. šø High Volume: The 24h trading volume is high at 1.79 Billion USDT.
10. šÆ Reversal Target: ETH needs to reclaim and hold the $4,000 level for any bullish confirmation.
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