๐ง $ETH /USDT
Major support snapped โ Ethereum plunges toward danger zone!
๐ Current Price: $2,277.48 (-5.76%)
๐ 1H Chart Breakdown:
Ethereum just broke through the key $2,300 zone, triggering panic sell pressure. A massive red candle formed as ETH plunged to $2,216 โ its lowest in 24 hours. All moving averages are stacked bearishly, reflecting a deepening downtrend.
๐ Moving Averages:
โข MA20: $2,400.18
โข MA50: $2,451.54
โข MA99: $2,483.05
ETH is decisively below all major short-term MAs โ sellers have clear control.
๐ Market Behavior:
The sharp drop below $2,300 triggered high-volume capitulation. A short-term bounce attempted from $2,216, but itโs facing selling pressure immediately โ showing weak demand absorption.
๐ฅ Momentum Snapshot:
โข Massive volume spike during breakdown
โข MACD likely flashing increasing bearish divergence
โข Price action remains heavy near lower bounds
๐งฑ Key Levels:
โข Resistance: $2,300 โ $2,353 โ $2,400
โข Support: $2,216 โ $2,150 โ $2,050
๐ Recommendations:
๐ป If $2,216 breaks again, ETH could spiral down toward $2,150 next, and possibly even $2,050 if broader sentiment weakens.
๐ If bulls reclaim $2,300+, ETH could initiate a recovery wave targeting $2,353 (prior floor) and $2,400 (MA cluster) as a test zone.
๐ Consolidation Scenario:
If ETH holds between $2,216โ$2,300, expect sideways chop as traders await macro signals or BTCโs next move to decide direction.
โ ๏ธ DYOR โ Ethereum just breached a major demand zone. Volatility is rising fast. Donโt blindly long dips โ structure your trades around key levels and tight stops.
Is $2,200 the final stand for ETH โ or just the beginning of more downside? โ๏ธ Letโs discuss in the comments!
