#ETH Chart Update
Current Price $1754.31
Change: Pulling back from local high of $1803.69
🧠 Key Observations:
Price Action:
ETH is currently in a short-term downtrend, breaking below both MA-7 and MA-25, signaling bearish momentum. The price is heading toward a possible retest of $1740–1730 range.
Indicators:
MACD: Bearish momentum building with widening histogram and bearish crossover.
RSI: Dropped to 42.51 — weak but not yet oversold. Room to drop further.
Volume: No significant buying interest on the recent red candles. Bearish pressure looks steady.
Support Levels:
Near-term: $1740 (psychological + structural)
Stronger: $1700 and $1650 (near MA-99)
⚠️ Trade Decision:
⛔ Not a good time to enter a long yet.
The trend and momentum are bearish. Wait for one of the following:
-RSI hits oversold (below 30) and starts to curl up
-MACD flattens or crosses bullish
-Strong support bounce from ~$1740 or ~$1700
✅ Watch for Potential Long Setup IF:
-Price stabilizes above $1765 with volume pickup
-Bullish divergence on RSI
-MACD crossover on smaller timeframe (15min)
Until then, stay patient — catching falling knives can be costly.