#CryptoMarketDip #ETH $ETH

ETH

1. Price Trend:

On the 1-hour chart, ETH is in a descending channel, moving towards support levels.

2. Moving Averages (MA):

MA50: The price is currently below the 50-period moving average, indicating selling pressure in the short term.

MA200: The price is also below the 200-period moving average, which can confirm the bearish trend.

3. RSI (Relative Strength Index):

The RSI is at 44.94, suggesting the possibility of price stabilization or correction in the short term.

4. Support and Resistance Levels:

Support Levels:

Key support is between $3,200 and $3,300, which could prevent further declines.

Resistance Levels:

Initial resistance is at $3,400, and if the price breaks above it, it could move towards the next resistance at $3,500.