$ETH 1. Trend Overview

The price is in a downtrend, as indicated by lower highs and lower lows.

ETH peaked at $4,107.80 before declining.

The current price is $2,074.61, suggesting a strong correction.

2. Moving Averages (MA)

MA(7) (Yellow) = 2,283.89 (Short-term) → Price is below it, indicating bearish momentum.

MA(25) (Pink) = 2,917.84 (Medium-term) → Price is far below this, reinforcing the downtrend.

MA(99) (Purple) = 2,595.09 (Long-term) → A major resistance level.

3. Support and Resistance

Support: Around $1,521, which acted as a key level before the rally.

Resistance: At $2,529 - $2,600, where the moving averages and previous consolidation levels are.

4. Analyses of Volumes Recent red volume bars show strong selling pressure.

However, some green bars indicate potential buyer interest at the lower levels.

5. RSI (Relative Strength Index)

RSI(6) = 30.53, indicating that ETH is close to oversold territory.

A potential bounce may occur if RSI starts rising above 35-40.

6. Market Outlook

If ETH fails to reclaim $2,283 (MA7), the downtrend may continue toward $1,521.

A rally toward $2,595 could be sparked by a break above $2,283. RSI confirmation and spikes in bullish volume are indicators of a trend reversal. Conclusion: ETH is in a bearish phase, but oversold conditions suggest a possible short-term bounce. To shift momentum, bulls must reclaim $2,283 or more.