Ethereum has fallen below the 20-day moving average and $2,636 support, showing clear short-term weakness. The RSI has dropped to 45, while the stochastic indicator is nearing 13 and has entered oversold territory. A rebound is possible, but that does not mean the downtrend is over.
The key level to watch now is $2,548. If it breaks, the next support is the 50-day moving average at $2,503, followed by $2,355, $2,334, and $2,204.
To regain strength, #ETH first needs to reclaim $2,636 and $2,647. If it breaks above those levels, the next levels to watch are $2,781, $3,075, and $3,253.
The key level to watch now is $2,548. If it breaks, the next support is the 50-day moving average at $2,503, followed by $2,355, $2,334, and $2,204.
To regain strength, #ETH first needs to reclaim $2,636 and $2,647. If it breaks above those levels, the next levels to watch are $2,781, $3,075, and $3,253.