eth_market_update

#ETH_Market_Update
ETH/USDT Chart Analysis
Current Price: $1,670.74 (-3.39%)
📉 Trend
ETH remains in a bearish trend, trading below the MA(7), MA(25), and MA(99). This indicates that sellers are still in control and the long-term trend remains weak.
📊 RSI
RSI(6): 36.72
Momentum is weak and approaching the oversold zone, but there is no confirmed bullish reversal yet.
🟢 Support Levels
$1,635–1,650 – Immediate support.
$1,505–1,550 – Major support. A break below this area could lead to further downside.
🔴 Resistance Levels
$1,705–1,730 – First resistance (MA7 & MA25).
$1,780–1,840 – Strong resistance.
$2,085+ – Major long-term resistance (MA99).
📈 Outlook
Holding above $1,635 could allow ETH to rebound toward $1,730–1,840.
A daily close above $1,730 would improve the short-term outlook.
If $1,635 breaks, the price may retest $1,505 before finding stronger support.
✅ Summary
Trend: Bearish 📉
Momentum: Weak
Support: $1,635 | $1,505
Resistance: $1,705 | $1,730 | $1,840
Trading View: Wait for confirmation before entering. A breakout above resistance favors buyers, while a breakdown below support favors sellers.
#Market_Update