$ETH Update Following Up on My Previous Post 👀
In my previous update, I highlighted the $2,780–$2,820 resistance zone, the bearish RSI divergence and the lack of strong volume behind the move. I mentioned that a rejection from that area could lead to a correction toward $2,500 and $2,374.
And that’s exactly what we’re seeing now.
ETH was rejected around $2,800 and has since dropped back toward the $2,500 area. The bearish divergence played out, and the previous range high is now clearly acting as resistance.
Now the chart gets interesting again.
$2,374 is the key level for me. ETH is currently holding above this previous breakout area, so the larger recovery structure is still alive.
If $2,374 holds, I wouldn’t be surprised to see ETH stabilize and attempt another move toward $2,700–$2,800.
But if ETH loses $2,374 with a strong daily close, then the recent breakout structure would start to weaken significantly, and the $1,980–$2,000 area could come back into play.
So the situation has changed from “watching the $2,800 rejection” to “watching whether $2,374 can hold.”
The bearish divergence has already played out. Now $2,374 is the level that matters most. 👀
#Etherum #Altcoin Season# #BTC Price Analysis# $USDT
In my previous update, I highlighted the $2,780–$2,820 resistance zone, the bearish RSI divergence and the lack of strong volume behind the move. I mentioned that a rejection from that area could lead to a correction toward $2,500 and $2,374.
And that’s exactly what we’re seeing now.
ETH was rejected around $2,800 and has since dropped back toward the $2,500 area. The bearish divergence played out, and the previous range high is now clearly acting as resistance.
Now the chart gets interesting again.
$2,374 is the key level for me. ETH is currently holding above this previous breakout area, so the larger recovery structure is still alive.
If $2,374 holds, I wouldn’t be surprised to see ETH stabilize and attempt another move toward $2,700–$2,800.
But if ETH loses $2,374 with a strong daily close, then the recent breakout structure would start to weaken significantly, and the $1,980–$2,000 area could come back into play.
So the situation has changed from “watching the $2,800 rejection” to “watching whether $2,374 can hold.”
The bearish divergence has already played out. Now $2,374 is the level that matters most. 👀
#Etherum #Altcoin Season# #BTC Price Analysis# $USDT