$ETH
🚨 Ethereum bulls show signs of exhaustion 🚨
Ethereum price trades at $2,674 on Wednesday, consolidating near recent highs as bulls show signs of exhaustion. Despite pauses in its rally, ETH holds a constructive bias as it remains well above the 50-day, 100-day and 200-day EMAs at $2,446, $2,282 and $2,267, respectively.
The cluster of underlying EMAs and the horizontal level at $2,500 reinforce a supportive backdrop. At the same time, the RSI around 61 suggests steady, but not overextended, upside momentum even as the MACD indicator slips further below zero, hinting at a mild loss of short-term upside conviction rather than a full-fledged reversal.
On the downside, immediate support is seen at the $2,500 horizontal line, followed closely by the 50-day EMA at $2,446, with the 100-day and 200-day EMAs at $2,282 and $2,267 providing a deeper demand band ahead of the more distant $2,000 and $1,385 structural floors.
On the topside, the next relevant resistance is the psychological $3,000 barrier, and a decisive daily close above it would likely open the way for an extension of the prevailing uptrend despite the currently cautious MACD signal.
#ETH320 #mr320 #Trendingissue #Trendingcoin320 #writetoearn320
🚨 Ethereum bulls show signs of exhaustion 🚨
Ethereum price trades at $2,674 on Wednesday, consolidating near recent highs as bulls show signs of exhaustion. Despite pauses in its rally, ETH holds a constructive bias as it remains well above the 50-day, 100-day and 200-day EMAs at $2,446, $2,282 and $2,267, respectively.
The cluster of underlying EMAs and the horizontal level at $2,500 reinforce a supportive backdrop. At the same time, the RSI around 61 suggests steady, but not overextended, upside momentum even as the MACD indicator slips further below zero, hinting at a mild loss of short-term upside conviction rather than a full-fledged reversal.
On the downside, immediate support is seen at the $2,500 horizontal line, followed closely by the 50-day EMA at $2,446, with the 100-day and 200-day EMAs at $2,282 and $2,267 providing a deeper demand band ahead of the more distant $2,000 and $1,385 structural floors.
On the topside, the next relevant resistance is the psychological $3,000 barrier, and a decisive daily close above it would likely open the way for an extension of the prevailing uptrend despite the currently cautious MACD signal.
#ETH320 #mr320 #Trendingissue #Trendingcoin320 #writetoearn320
