$ETH Ethereum (ETH) Market Update
ETH is trading at $2,923, down 0.75% in 24h, and is testing the crucial $2,900 support level. Market sentiment remains fearful (Fear & Greed Index: 25).
Technical outlook stays bearish:
RSI at 40.26 shows weak momentum
MACD has printed a bearish crossover
Price remains below key moving averages
A head-and-shoulders pattern suggests a possible drop toward $2,630 if $2,900 breaks
Key resistance levels:
$3,050 (short-term)
$3,250โ$3,300 (trend reversal zone)
Fundamentals remain mixed:
Network growth continues with the successful Pectra upgrade and upcoming Fusaka upgrade
Institutional adoption is rising through ETFs and tokenization
However, selling pressure persists as long-term holders sold 847K+ ETH, alongside continued ETF outflows
Outlook:
Holding above $2,900 could lead to short-term consolidation
A breakdown below this level may trigger further downside
๐ ETH is at a critical decision point โ expect high volatility.
#BinanceBlockchainWeek #WriteToEarnUpgrade #BinanceSquareBTC