$ETH $USDT ๐ด ETH/USDT โ Bearish Pressure Zone | Daily Chart Analysis
๐ Current Price: $2,179 | -1.94% (24h)
๐ Chart Pattern:
The chart clearly shows a Descending Channel / Lower Highs pattern:
ETH has started to drop below $2,464
With every rally, itโs forming Lower Highs โ buyers are weak
MA(7): 2,275 | MA(25): 2,306 โ both are above the price ๐
This means the price is trading below its short & mid-term averages โ bearish signal
๐ Key Levels:
Zone
Price
๐ด Strong Resistance
$2,306 โ $2,275
โ ๏ธ Immediate Resistance
$2,232 (24h High)
โ Support Zone
$2,162 โ $2,100
๐จ Breakdown Level
Below $2,100
๐ What To Watch:
โ If $ETH fails to break the $2,275โ$2,306 zone โ further decline possible, target $2,100โ$2,050
๐ข If it closes above $2,306 with strong volume โ only then consider a bullish reversal
โ ๏ธ Risk Warning:
This post is for educational analysis only. Crypto is highly volatile. DYOR and make sure to follow your risk management.
#ETH #ETHUSDT. #BinanceSquare #Altcoins #TechnicalAnalysis
๐ Current Price: $2,179 | -1.94% (24h)
๐ Chart Pattern:
The chart clearly shows a Descending Channel / Lower Highs pattern:
ETH has started to drop below $2,464
With every rally, itโs forming Lower Highs โ buyers are weak
MA(7): 2,275 | MA(25): 2,306 โ both are above the price ๐
This means the price is trading below its short & mid-term averages โ bearish signal
๐ Key Levels:
Zone
Price
๐ด Strong Resistance
$2,306 โ $2,275
โ ๏ธ Immediate Resistance
$2,232 (24h High)
โ Support Zone
$2,162 โ $2,100
๐จ Breakdown Level
Below $2,100
๐ What To Watch:
โ If $ETH fails to break the $2,275โ$2,306 zone โ further decline possible, target $2,100โ$2,050
๐ข If it closes above $2,306 with strong volume โ only then consider a bullish reversal
โ ๏ธ Risk Warning:
This post is for educational analysis only. Crypto is highly volatile. DYOR and make sure to follow your risk management.
#ETH #ETHUSDT. #BinanceSquare #Altcoins #TechnicalAnalysis