$ETH ETH is facing a strong resistance band after dipping below the $1,741 levelšš
On the daily candlestick chart, ETH extends its short-term bearish bias as prices remain under the 20-, 50-, and 100-day Exponential Moving Averages (EMA). The recent drop below the previous bullish trend line, now acting as resistance around $1,774, confirms the broken bullish structure, while the Relative Strength Index (RSI) sits around 38 and the Stochastic reading in the middle range suggests only a moderate recovery from oversold conditions.
On the upside, initial resistance is aligned near $1,741, before encountering solid barriers formed by the 20-day EMA at $1,770 and the reclaimed trend line around $1,774, with further resistance at $1,806 and $1,909 before hitting the 50-day EMA at $1,926 and $2,018. The broader bearish setup remains intact, with ETH trading below the 100-day EMA at $2,085 and horizontal levels at $2,108 and $2,211.
On the downside, immediate focus is on the horizontal support at $1,524. A break below there would open deeper bearish targets at $1,405 and then $1,156.
StrategyReservesExceedDebtBy$48B#BitcoinETFWeeklyOutflowsDrop87% $DEGO $ERA
On the daily candlestick chart, ETH extends its short-term bearish bias as prices remain under the 20-, 50-, and 100-day Exponential Moving Averages (EMA). The recent drop below the previous bullish trend line, now acting as resistance around $1,774, confirms the broken bullish structure, while the Relative Strength Index (RSI) sits around 38 and the Stochastic reading in the middle range suggests only a moderate recovery from oversold conditions.
On the upside, initial resistance is aligned near $1,741, before encountering solid barriers formed by the 20-day EMA at $1,770 and the reclaimed trend line around $1,774, with further resistance at $1,806 and $1,909 before hitting the 50-day EMA at $1,926 and $2,018. The broader bearish setup remains intact, with ETH trading below the 100-day EMA at $2,085 and horizontal levels at $2,108 and $2,211.
On the downside, immediate focus is on the horizontal support at $1,524. A break below there would open deeper bearish targets at $1,405 and then $1,156.
StrategyReservesExceedDebtBy$48B#BitcoinETFWeeklyOutflowsDrop87% $DEGO $ERA