#Ethereum #ETH #CryptoTrading
#SmartMoney
Ethereum Daily Outlook ๐๐
ETH is currently trading around $2,024, showing a modest recovery after recent downside pressure. On the daily timeframe, price remains below the key EMAs (50 & 99), confirming that the broader trend is still bearish.
However, there are some early signs of stabilization:
RSI (~41) โ approaching neutral territory, suggesting selling pressure is weakening
Price holding above the $1,990โ$2,000 support zone
Short-term EMA (7) is flattening โ possible momentum shift
๐ Key Levels to Watch:
Resistance: $2,120 โ $2,160 (EMA50 area)
Major Resistance: $2,380 (previous rejection zone)
Support: $1,990 โ $1,940
Breakdown Zone: Below $1,900 could accelerate bearish continuation
๐ Scenario 1 (Bullish):
If ETH reclaims $2,120 with strong volume, we could see a push toward $2,300+
๐ Scenario 2 (Bearish):
Failure to hold $2,000 may trigger another leg down toward $1,900
โ ๏ธ Market structure is still lower highs + lower lows, so patience is key. Wait for confirmation before entering.