$ETH
Strong support levels: If the price stabilizes at 1993 USDT and does not break it, this could be a temporary bottom, increasing the likelihood of a rebound. However, if it breaks, we may see further declines.
Trading volume: If buying volume starts to increase, this could be a signal of a slowdown in the decline or the beginning of an upward reversal.
Moving averages (MA): If the price remains below its major moving averages (such as MA25 and MA99), the decline may continue for a longer period.
News and external influences: Any news about the market or economic decisions may affect the price direction.
Potential scenarios:
If support holds at 1993 USDT, we may witness a rebound soon.
If support is broken, the decline may continue towards lower levels like 1900 USDT or 1800 USDT before we find a new bottom.
It is advisable to closely monitor price movements and trading volumes before making any decisions. Do you have a specific level you are considering buying or selling at?
