ETH Market Update: Testing Key Support 📉
Ethereum is currently struggling to maintain momentum on the 1-day chart as it tests a critical psychological support zone.
Current Price: $2,833.70
Trend: Despite a small +0.51% gain today, ETH is down -10.90% over the last 7 days.
Technical View: The price is trading below the MA(7) ($2,979) and MA(25) ($3,042), which now act as strong resistance levels.
Key Levels: Immediate support is at $2,800, while a break below could lead to $2,623.
Summary: 📝 Market sentiment remains cautious. ETH needs to reclaim the $3,000 level to confirm a bullish reversal. Until then, expect continued sideways movement or potential dips.
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