ETH rebound faces resistance; short-term outlook remains weak
Ethereum has continued to retreat from its recent highs, erasing most of its September gains. #ETH previously fell to around $2,200 and is currently fluctuating near $2,317, but selling pressure overhead remains significant.
Technically, ETH repeatedly failed to break through $2,750–$2,800, then continued to decline, with each rebound met by selling. $2,350 is now the first resistance level; above that, it will still face the $2,400–$2,500 resistance zone.
Key support and resistance levels:
Resistance: $2,350, $2,400.
Support: $2,250, $2,200; if these levels are broken, ETH could fall further to $2,100.
The RSI is gradually flattening, indicating that selling pressure has eased somewhat, but this is not yet enough to confirm a trend reversal.
Overall, ETH remains in a weak consolidation phase. It will have a chance to rebound further only if it regains and holds above $2,350.
Ethereum has continued to retreat from its recent highs, erasing most of its September gains. #ETH previously fell to around $2,200 and is currently fluctuating near $2,317, but selling pressure overhead remains significant.
Technically, ETH repeatedly failed to break through $2,750–$2,800, then continued to decline, with each rebound met by selling. $2,350 is now the first resistance level; above that, it will still face the $2,400–$2,500 resistance zone.
Key support and resistance levels:
Resistance: $2,350, $2,400.
Support: $2,250, $2,200; if these levels are broken, ETH could fall further to $2,100.
The RSI is gradually flattening, indicating that selling pressure has eased somewhat, but this is not yet enough to confirm a trend reversal.
Overall, ETH remains in a weak consolidation phase. It will have a chance to rebound further only if it regains and holds above $2,350.