The current price is 2,497.85 USDC, down 1.35% over the last 24 hours. Moving averages show that the price is below the MA(7) and MA(25), indicating a short-term downward trend, but it remains well above the MA(99), which signals a positive long-term trend. Trading volume is high, with approximately 199,655 ETH and 491 million USDC traded, and the increasing volume during red candles suggests strong selling pressure. The MACD indicator is negative, with the MACD line below the signal line, and the histogram shows increasing negative momentum, supporting a bearish short-term outlook. The RSI is at 43.15, below the 50 threshold, confirming selling pressure but not yet in oversold territory, so there is still room for further decline.
Price action shows a daily low at 2,383 USDC and a recent high of 2,790 USDC, with the current candle featuring a long lower wick—possibly a sign of rejection at the support level, but this lacks confirmation. Key resistance zones lie between 2,550 and 2,605 USDC, while important supports are at 2,380 and 2,132 USDC.
In conclusion, ETH is undergoing a correction after a period of growth, with bearish signals in the short term but an overall positive long-term trend. Traders are advised to wait for confirmation of support or a rebound with increased volume before buying. For long-term investors, this could be a good opportunity for gradual accumulation, avoiding large lump-sum investments.
