$ETH Ethereum (ETH/USDT) is currently in a strong downtrend ๐ on the 15-minute timeframe. The price has dropped significantly by 3.62%, and the overall structure suggests further downside movement โ ๏ธ.
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๐ Technical Analysis:
1๏ธโฃ Trend Breakdown & Market Structure:
The price initially peaked near $2,060 but has been continuously forming lower highs and lower lows โฌ๏ธ.
The recent movement (highlighted in ๐ orange) shows a bearish impulse wave, followed by a slight consolidation ๐ before another expected drop.
A bear flag (marked in ๐ต blue) is visible, which often signals continuation to the downside ๐จ.
2๏ธโฃ EMA & Resistance Levels:
The price is below the 200 EMA, indicating strong bearish momentum โ.
If ETH fails to reclaim this level, it could drop further towards $1,960 or lower ๐.
3๏ธโฃ MACD Confirmation:
The MACD indicator is in a bearish zone, with the signal line crossing below the MACD line โ
The histogram is negative, meaning sellers are still in control, and a new downward push is likely ๐ป.
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๐ฎ Predicted Future Movement:
๐ Bearish Scenario (Higher Probability):
ETH is likely to continue its downtrend toward $1,960 ๐.
If selling pressure remains strong, a breakdown below $1,960 could lead to $1,940 or even $1,920 ๐จ.
The next major support lies near $1,920-$1,930, which could act as a reversal zone ๐ ๏ธ.
๐ Bullish Scenario (Lower Probability):
If ETH holds above $1,980 and breaks the bear flag to the upside, it could attempt a recovery toward $2,020 ๐ช.
A strong breakout above $2,040 is needed for the sentiment to turn bullish ๐.
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โ ๏ธ Conclusion:
Given the current structure, Ethereum seems more likely to continue downward unless it breaks above the $2,000 resistance. If the sell-off continues, ETH could test $1,960 and potentially even lower levels.
๐ฅ Traders should watch the 200 EMA, MACD crossovers, and breakout confirmations before making any decisions! ๐๐ฐ
#ETHBreaks2k
