$ETH /USDT is trading near 3,198 after a sharp intraday drop, showing clear short-term weakness on the 15-minute chart. Price slipped below key moving averages, with MA(7) and MA(25) acting as dynamic resistance, while MA(99) remains far above, confirming bearish momentum. The long wick toward 3,166 signals strong buying interest at the lows, hinting at a possible short-term relief bounce. Immediate support sits around 3,160–3,180, while resistance is stacked near 3,225–3,260. A reclaim above 3,230 could stabilize price, but failure to hold current support may open the door for further downside. Traders should stay cautious and wait for confirmation before taking aggressive positions.
