$ETH Technical outlook is broadly bearish across the board; the 1h/4h/1d trends are consistent in looking down—don’t be fooled by a mere 0.046% uptick!
Over the past 24h, trading volume was $618 million, yet the price barely moved at all, indicating weak longs and a build-up of the shorts. $ETH is in a bearish consolidation around $2693.1; the MACD has a dead cross to confirm, and the moving averages clearly suppress to the downside. BTC is ranging at the highs without a breakout. ETH lacks independent catalysts, making it very likely to follow the downside.
Go short directly near the current price; target $2600, stop-loss $2750.
The trend is king—fight the trend at your own risk
Over the past 24h, trading volume was $618 million, yet the price barely moved at all, indicating weak longs and a build-up of the shorts. $ETH is in a bearish consolidation around $2693.1; the MACD has a dead cross to confirm, and the moving averages clearly suppress to the downside. BTC is ranging at the highs without a breakout. ETH lacks independent catalysts, making it very likely to follow the downside.
Go short directly near the current price; target $2600, stop-loss $2750.
The trend is king—fight the trend at your own risk