[Market Outlook] ETH/USDT: Bearish Bias in the Short Term

ETH is showing signs of weakness as it struggles to sustain upward momentum. With the price currently at $1,587.29, below the Bollinger Band mid-line of $1,666.94, short-term sentiment leans bearish.

Technical Breakdown:

Bollinger Bands: Price hovers near the lower range, reflecting increased downside risk.

RSI Levels: RSI(50) at 40.21 and RSI(200) at 46.16 both signal weak bullish strength and potential for further pullback.

Recent Low: Strong support observed around $1,385, but failure to reclaim $1,666 may result in a retest of that zone.

Volume Watch: 24h volume hasn't indicated any strong buying momentum.

Conclusion:

Unless ETH breaks above the $1,666–$1,700 resistance zone with conviction, expect consolidation or further downside. Ideal for cautious swing strategies or potential short setups.

Bias: Bearish (Short-Term)

Stay alert and manage risk tightly — this market still favors patience.

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