🔹 Ethereum ($ETH ) Analysis: Testing Multi-Month Lows
Ethereum is mirroring Bitcoin's weakness, with its price being significantly impacted by ETF outflows and the broader "risk-off" environment. Recent outflows for ETH have totaled over $223 million. ETH's price has fallen sharply, testing major support areas established earlier in the year.
📉 Technical Outlook ($ETH /USD)
Current Trend: Strong downward momentum, having broken a falling trend channel to the downside, indicating an even stronger falling rate.
Key Support Zones:
$2,700 - $2,800: This is the current critical support being tested. This level coincides with the multi-month lows and a significant 61.8% Fibonacci Retracement level of the entire previous upward move, making it a pivotal point for traders and algorithms.
$2,550: Failure to hold the $2,700 support would expose this level next.
$2,000 - $2,400: The longer-term risk if the current support fails.
Key Resistance Levels:
$3,000 - $3,200: The major momentum pivot; reclaiming this area is essential for any meaningful short-term recovery.
$3,373 - $3,500: The top of the descending channel and major resistance.
Momentum Indicators: The short-term momentum is strongly negative, with the 14-day RSI deep in oversold territory. The Moving Averages show a "Strong Sell" outlook, indicating that the path of least resistance remains downward until a significant support level holds.#BTCVolatility #USJobsData #USStocksForecast2026 #IPOWave #CryptoIn401k
