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⚡ $ETH Technical Analysis – Significant Decline, Is a Recovery Ahead? 🎯🔥

ETH

1,543

-6.16%

Ethereum is under pressure, trading at $1,520.81 (-8.36%), with a 24-hour high of $1,689.00 and a low of $1,471.02. After this sharp decline, is Ethereum ready to bounce back or will the bears remain in control? Let’s dive into the data:

📊 Technical Overview:

🔹 SAR(0.02, 0.2): $1,473.78 – Ethereum is still above the SAR, indicating potential short-term support.

🔹 24-Hour Volume: 1.10M ETH / 1.74B USDT – Huge liquidity, indicating significant interest from traders.

🔹 Depth: 3.30% – Volatility is active, and a reversal could be near!

🎯 Key Targets to Watch:

✅ Target 1: $1,580 – Minor resistance; regaining this could ignite recovery momentum.

✅ Target 2: $1,640 – A critical area where selling pressure may reappear.

✅ Target 3: $1,689 – Re-testing the 24-hour high will confirm a bullish reversal pattern.

⚠️ Bearish Scenario: If Ethereum breaks below $1,470, it could head towards $1,420.

📢 Final Thoughts: Ethereum is in a critical area, hovering above the main SAR and close to daily support. A strong bounce from current levels could trigger a recovery. Watch for volume spikes and price interaction at $1,580.