📊 Technical Analysis of Ethereum (ETH) – Dated June 12, 2025
🔹 Current Price: $2,766
🔸 General Trend:
Ethereum is currently moving in a sideways downward trend in the short term, after breaking an important technical support at the $2,850 level. The price is now testing a critical support area, and if it breaks this, we may witness further correction.
🔹 Nearby Resistances:
$2,850: Turned from support to resistance, and may be a retest area.
$2,950: Convergence with the 50-day moving average (MA50).
$3,000: Important psychological resistance that could regain upward momentum if breached.
🔹 Current Supports:
$2,720: Horizontal support, from which the price recently bounced.
$2,600: Strong support, representing a previous low in May.
🔸 Technical Indicators:
RSI (14): At 42 – indicates weakness in buying momentum and nearing oversold areas.
MACD: Negative crossover and continues to give signals of weakness.
Trading Volume: Relatively low, indicating market hesitation at this level.
📈 Potential Scenario:
If the price holds the $2,720 support and shows a strong bounce, we may see a corrective rise towards $2,850 then $2,950.
However, if it breaks $2,720 with a daily close, the price is at risk of dropping towards $2,600 – $2,550 as the next targets.
🧠 Quick Overview:
Markets are currently in a cautious state awaiting catalysts (such as economic data or a move in Bitcoin's price).
