ETH Breaks Key Support: Is the Bottom In? 📉

​$ETH is currently feeling the heat. After failing to hold the $2,050 level, we’ve seen a sharp drop down to the $1,950-$1,980 range.

​Moving Averages:

The MA(7) has crossed below the MA(25) and MA(99), signaling a strong short-term bearish trend.

​Volume:

We saw a significant spike in sell volume during the drop, indicating high conviction from the bears.

​Current State:

We are seeing a tiny green candle (dead cat bounce or actual reversal?), but resistance at $2,000 remains heavy.

​I'm watching the $1,945 level closely. If that breaks, we could be looking at a deeper correction. Stay safe out there and use stop-losses! 🛡️

​#ETH #CryptoAnalysis #TradingSignals #Ethereum #BinanceSquare

ETH
ETH
2,108.83
+1.50%