Technical analysis for coin $ETH
The ETH/USDT pair on the 4-hour timeframe shows a sharp decline under the pressure of the prevailing downtrend. The price is clearly moving within a descending channel, with selling forces pushing it towards new support levels.
Here’s the technical analysis based on key terms:
Price Action: The price is currently trading at $1830.48, which is very close to the lower boundary of the descending channel, reflecting increasing bearish momentum.
Support Levels: The current immediate support level is at $1811.15, while the major support is highlighted at $1749.89.
Resistance Levels: To turn bullish, the price needs to break out above the upper boundary of the channel and resistances at $1872.41, then $1933.67, and $1994.93.
Conclusion: The overall trend remains bearish as long as the price stays trapped within the descending channel. Monitoring the price action at the support level of $1811.15 is crucial, as any rebound may represent a temporary attempt to regain balance, while breaking this level could open the door for further declines towards lower levels.
#ETH #Ethereum #Crypto #Aymonacci #EthereumCommunity
The ETH/USDT pair on the 4-hour timeframe shows a sharp decline under the pressure of the prevailing downtrend. The price is clearly moving within a descending channel, with selling forces pushing it towards new support levels.
Here’s the technical analysis based on key terms:
Price Action: The price is currently trading at $1830.48, which is very close to the lower boundary of the descending channel, reflecting increasing bearish momentum.
Support Levels: The current immediate support level is at $1811.15, while the major support is highlighted at $1749.89.
Resistance Levels: To turn bullish, the price needs to break out above the upper boundary of the channel and resistances at $1872.41, then $1933.67, and $1994.93.
Conclusion: The overall trend remains bearish as long as the price stays trapped within the descending channel. Monitoring the price action at the support level of $1811.15 is crucial, as any rebound may represent a temporary attempt to regain balance, while breaking this level could open the door for further declines towards lower levels.
#ETH #Ethereum #Crypto #Aymonacci #EthereumCommunity