$ETH is sitting around $2,372 on the 4H chart, right on top of a support zone after another rejection from the lower-highs trendline. Here's the map 👇
🔹 Trend: lower highs since Oct 12 (2,580 → 2,527 → 2,418), and price is below the 50 and 200 EMA (about 2,430 and 2,513). Bearish bias.
🔹 Key support: 2,356–2,372, defended on Oct 18, 20 and 23. Below that, 2,318–2,329 holds the October lows.
🔹 Key resistance: 2,418–2,446, where the 50 EMA also sits. Above it, 2,526–2,530 lines up with the trendline.
🔹 RSI (14): about 39, so momentum is weak but not oversold yet.
🔹 Bullish case: a 4H close back above 2,446 opens the way to 2,500–2,530.
🔹 Bearish case: losing 2,356 puts 2,318 back in play, and a break there opens fresh lows.
Bottom line: ETH is pinned near support under a falling trendline. Bulls need 2,446 back; until then, sellers have the edge.
Not financial advice.
#ETH #TechnicalAnalysis #Ethereum
🔹 Trend: lower highs since Oct 12 (2,580 → 2,527 → 2,418), and price is below the 50 and 200 EMA (about 2,430 and 2,513). Bearish bias.
🔹 Key support: 2,356–2,372, defended on Oct 18, 20 and 23. Below that, 2,318–2,329 holds the October lows.
🔹 Key resistance: 2,418–2,446, where the 50 EMA also sits. Above it, 2,526–2,530 lines up with the trendline.
🔹 RSI (14): about 39, so momentum is weak but not oversold yet.
🔹 Bullish case: a 4H close back above 2,446 opens the way to 2,500–2,530.
🔹 Bearish case: losing 2,356 puts 2,318 back in play, and a break there opens fresh lows.
Bottom line: ETH is pinned near support under a falling trendline. Bulls need 2,446 back; until then, sellers have the edge.
Not financial advice.
#ETH #TechnicalAnalysis #Ethereum