$ETH

Latest technical analysis on Ethereum (ETH):

Current trend:

ETH is trading below the 50-day moving average, indicating a short-term bearish trend. The RSI is currently at 34.28, near the oversold region, which may suggest a possibility of short-term recovery. The MACD is negative, indicating that selling pressure remains dominant.

Support and resistance levels:

- Support: $2,850 - $2,930

- Resistance: $3,200

Maintaining the support level of $2,850 - $2,930 is crucial to prevent a deeper bearish trend. If the price breaks below this level, ETH may continue to decline. Conversely, if the price recovers and surpasses the resistance level of $3,200, an upward trend may be confirmed.

Technical indicators:

- RSI: 34.28 – near the oversold region, which may suggest a possibility of recovery.

- MACD: Negative, indicating that selling pressure remains dominant.

Conclusion:

ETH is facing selling pressure, but technical indicators suggest a possibility of short-term recovery. Traders should monitor important support and resistance levels, as well as technical indicators, to make informed trading decisions.

*Note: The analysis above is for reference only and is not investment advice. The cryptocurrency market is highly volatile; investors should exercise caution and conduct their own research before making decisions.