U.S. stocks posted their strongest single-day gain in nearly six months on Monday, with the Dow surging 1,100 points, while $ETH is still grinding around $2,100—missing out on the gains, but not on the losses.
Ethereum is currently trading at around $2,128, down 0.8% over 24 hours. Technically, it has fallen below every key level: it closed at $2,135 on November 9, below the 20-day moving average of $2,297, the 50-day moving average of $2,473, and the 200-day moving average of $2,155. The RSI is at 33.7, near oversold territory; the MACD is bearishly aligned, with its histogram still expanding. Price is hugging the lower Bollinger Band at $2,123, while the 30-day high of $2,580 is now a distant memory.
Resistance lies in successive layers above: $2,155 → $2,297 → $2,473. Below, the only support left is $2,123 → the 30-day low of $2,060. The Fear & Greed Index is at 32, still in fear territory.
This whale’s take: with all the moving averages weighing on price, the RSI near oversold territory, and price hugging the lower band, three signs of weakness are piling up. Trying to catch a short-term bounce just because “it’s fallen a lot” is basically a gamble on the lower band. The key thing to watch is tonight’s CPI at 21:30: a cooler-than-expected reading and easing rate-hike odds could give ETH a chance to reclaim the 200-day moving average at $2,155; a hotter reading would put the 30-day low of $2,060 to the test. As for Fanfan? Let’s see what the CPI says first.
Ethereum is currently trading at around $2,128, down 0.8% over 24 hours. Technically, it has fallen below every key level: it closed at $2,135 on November 9, below the 20-day moving average of $2,297, the 50-day moving average of $2,473, and the 200-day moving average of $2,155. The RSI is at 33.7, near oversold territory; the MACD is bearishly aligned, with its histogram still expanding. Price is hugging the lower Bollinger Band at $2,123, while the 30-day high of $2,580 is now a distant memory.
Resistance lies in successive layers above: $2,155 → $2,297 → $2,473. Below, the only support left is $2,123 → the 30-day low of $2,060. The Fear & Greed Index is at 32, still in fear territory.
This whale’s take: with all the moving averages weighing on price, the RSI near oversold territory, and price hugging the lower band, three signs of weakness are piling up. Trying to catch a short-term bounce just because “it’s fallen a lot” is basically a gamble on the lower band. The key thing to watch is tonight’s CPI at 21:30: a cooler-than-expected reading and easing rate-hike odds could give ETH a chance to reclaim the 200-day moving average at $2,155; a hotter reading would put the 30-day low of $2,060 to the test. As for Fanfan? Let’s see what the CPI says first.
