ETH/USDT Market Update: Heavy Selling Pressure Ahead? 📉
Ethereum is facing strong downward momentum, dropping from $2,118 down to the $2,022 zone. Here is what the chart is signaling right now:
🔸 Heavy Seller Dominance: Unlike BTC, the ETH order book shows 78.86% Ask (sellers) vs only 21.14% Bid (buyers). Strong selling pressure is keeping the price suppressed.
🔸 Bearish Trend: Price is trading well below all key Moving Averages (MA), with 7-day (-16.4%) and 30-day (-19.7%) trends remaining weak.
🔸 Oversold RSI: RSI(6) is at 15.95 (deeply oversold). While a small relief bounce is possible, sellers are currently in control.
👀 Key Levels to Watch:
• Support: $2,006 & the major psychological level at $2,000 (If broken, expect further drop).
• Resistance: $2,039 – $2,078
Will ETH hold the $2,000 support or break lower? Share your thoughts below! 👇
#Ethereum #ETH #CryptoTrading #BinanceSquare #CryptoAnalysis #ETHUSDT $ETH $ETH
Ethereum is facing strong downward momentum, dropping from $2,118 down to the $2,022 zone. Here is what the chart is signaling right now:
🔸 Heavy Seller Dominance: Unlike BTC, the ETH order book shows 78.86% Ask (sellers) vs only 21.14% Bid (buyers). Strong selling pressure is keeping the price suppressed.
🔸 Bearish Trend: Price is trading well below all key Moving Averages (MA), with 7-day (-16.4%) and 30-day (-19.7%) trends remaining weak.
🔸 Oversold RSI: RSI(6) is at 15.95 (deeply oversold). While a small relief bounce is possible, sellers are currently in control.
👀 Key Levels to Watch:
• Support: $2,006 & the major psychological level at $2,000 (If broken, expect further drop).
• Resistance: $2,039 – $2,078
Will ETH hold the $2,000 support or break lower? Share your thoughts below! 👇
#Ethereum #ETH #CryptoTrading #BinanceSquare #CryptoAnalysis #ETHUSDT $ETH $ETH