#ETH plunged from an intraday high to around $2,560, ending the sideways trading range of $2,650–$2,750 that had held since late September.
Technically, ETH has fallen below its short-term moving average at $2,630, and the RSI has also weakened. Rising trading volume further points to increased selling pressure.
The key level to watch next is $2,500–$2,520, the first major support zone. If it holds, ETH could get another chance to test $2,600, followed by $2,680–$2,700. A break above $2,700 could put $2,780–$2,800 in sight.
If ETH closes below $2,500 on the daily chart, watch for a retest of $2,400–$2,450, or even $2,300–$2,350.
Technically, ETH has fallen below its short-term moving average at $2,630, and the RSI has also weakened. Rising trading volume further points to increased selling pressure.
The key level to watch next is $2,500–$2,520, the first major support zone. If it holds, ETH could get another chance to test $2,600, followed by $2,680–$2,700. A break above $2,700 could put $2,780–$2,800 in sight.
If ETH closes below $2,500 on the daily chart, watch for a retest of $2,400–$2,450, or even $2,300–$2,350.