๐ฃ Ethereum: Bounce or Market Trap?
๐ Current Price: $2,532.36
๐ Intraday Range: $2,496.11 โ $2,529.18
๐ Daily Variation: +0.31%
Ethereum has experienced a slight recovery in the last 24 hours, reaching a critical point that could determine its direction in the coming weeks.
๐ Technical Analysis
Key Support: $2,500
Immediate Resistance: $2,550
Indicators:
RSI: 39.66 (oversold zone)
MACD: In negative territory, indicating bearish pressure
Bollinger Bands: Widening, suggesting increased volatility.
The loss of support at $2,532 opens the possibility of a drop towards the demand zone between $2,445 and $2,475. The RSI at oversold levels and the negative MACD reinforce this bearish outlook.
๐ฆ Fundamental Factors
Institutional Interest: Despite the recent correction, institutional interest in Ethereum remains strong, with significant inflows into ETH ETFs.
June History: Historically, June has been a challenging month for Ethereum, with an average negative performance of 7.4%.
๐ฌ What do you think?
Do you believe Ethereum will break the resistance and reach new highs, or will we see a deeper correction in the coming weeks? Share your analysis and strategies in the comments.
