$ETH looks to break 2,283: will it rise or fall?
$ETH is trading at US$2,261, up 1.06% in 24h. The RSI is at 42.9 and the 4h trend remains bearish, so momentum is weak.
Key levels are support at 2,236 and immediate resistance at 2,283; above that, the next barrier is 2,361. The 20 (2,273) and 50 (2,313) EMAs are above the price, reinforcing downward pressure.
On Binance futures, funding is -0.0071% every 8h and open interest rose 1.3% in 24h, reaching US$5,311 M. 74% of accounts are long, indicating that many are expecting a rebound, but negative funding penalizes those positions.
$NEAR (+3.0%) and $ZEC (+3.0%) are also moving, with volumes of US$76 M and US$78 M respectively, showing some appetite for layer 1 and privacy altcoins.
If it breaks 2,283, the next target would be 2,361; but a drop below 2,236 would invalidate the bullish scenario and open the door to 2,174. Will it break 2,283 or return to 2,236? 🟢/🔴
#Ethereum #DeFi
This is not financial advice. Do your own research before investing.
$ETH is trading at US$2,261, up 1.06% in 24h. The RSI is at 42.9 and the 4h trend remains bearish, so momentum is weak.
Key levels are support at 2,236 and immediate resistance at 2,283; above that, the next barrier is 2,361. The 20 (2,273) and 50 (2,313) EMAs are above the price, reinforcing downward pressure.
On Binance futures, funding is -0.0071% every 8h and open interest rose 1.3% in 24h, reaching US$5,311 M. 74% of accounts are long, indicating that many are expecting a rebound, but negative funding penalizes those positions.
$NEAR (+3.0%) and $ZEC (+3.0%) are also moving, with volumes of US$76 M and US$78 M respectively, showing some appetite for layer 1 and privacy altcoins.
If it breaks 2,283, the next target would be 2,361; but a drop below 2,236 would invalidate the bullish scenario and open the door to 2,174. Will it break 2,283 or return to 2,236? 🟢/🔴
#Ethereum #DeFi
This is not financial advice. Do your own research before investing.
