$ETH #MarketPullback
📉 Chart Description (ETH/USDT – 1D Timeframe)
Price Trend
ETH is currently trading around $3,161.
The overall structure is downtrend, with lower highs and lower lows.
The latest candles show a small bounce, but still weak—no strong bullish confirmation yet.
Moving Averages (EMA)
EMA 7 (yellow) is below EMA 25 (pink) → short-term bearish momentum.
Both EMA 7 and EMA 25 are also below EMA 99 (purple) → confirms strong higher-timeframe bearish trend.
Price is trading below all EMAs, which usually means sellers still control the market.
RSI (6)
RSI is around 29.47, which indicates oversold conditions.
Oversold means price may bounce, but not guaranteed—trend is still bearish.
Volume
Volume is average; no major spike suggesting trend reversal yet.
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🔑 Key Support Levels
Based on visible lows on the chart:
1️⃣ Major Support – $3,057
This is the recent swing low.
Price already touched this level and bounced slightly.
If ETH drops again and breaks below $3,057, expect stronger downside.
2️⃣ Support Zone – $2,996 – $3,000
Psychological level ($3,000) + visible support zone.
If $3,057 breaks, this is the next strong area buyers may defend.
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🔺 If Price Breaks Below $2,996
Expect next deeper levels around:
$2,900
$2,850
(Based on typical ETH round-number support zones)
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📌 Summary
ETH is in a bearish trend, but RSI shows oversold, meaning a short bounce is possible. The key levels to watch:
Support Levels
$3,057 (major)
$3,000 / $2,996
If these break → more downside.
Disclaimer : it's not a financial advice always do your own research .