📊 Technical Analysis of Ethereum (ETH) – as of June 12, 2025
🔹 Current Price: $2,766
🔸 General Trend:
Ethereum is currently moving in a sideways trend with a slight downward bias in the short term, after breaking an important technical support at the level of $2,850. The price is now testing a critical support area, and if it breaks through, we may witness further correction.
🔹 Nearby Resistances:
$2,850: Shifted 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 may regain upward momentum if breached.
🔹 Current Supports:
$2,720: Horizontal support, from which the price recently rebounded.
$2,600: Strong support, representing a previous low in May.
🔸 Technical Indicators:
RSI (14): At 42 – indicates weakness in buying momentum and nearing oversold territory.
MACD: Negative crossover and continues to give signals of weakness.
Trading Volume: Relatively low, indicating market hesitation at this level.
📈 Possible Scenario:
If the price maintains support at $2,720 and shows a strong rebound, we may see a corrective rise towards $2,850 then $2,950.
However, if $2,720 is broken with a daily close, the price is at risk of falling 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).
