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ETH/USDT closed at 2,238.67, barely moving over 24 hours (+0.03%). That calm finish doesn't erase the weakness on the daily chart.
Price remains below both the 20-day EMA (2,336.31) and 50-day EMA (2,391.92). The shorter average is also below the longer one, while recent swing highs and lows continue to slope downward.
A sustained recovery above both moving averages would be an early sign of improving momentum. Beyond that, the 2,526–2,547 zone has repeatedly attracted selling pressure, making it an important area to watch.
If ETH continues struggling below its moving averages and forms lower lows, the bearish structure remains intact. The chart doesn't yet show a reliable support zone.
🔧
Testing of the upcoming Glamsterdam upgrade uncovered compatibility issues involving changes to gas charges. Developers have paused the Hoodi testnet fork until those issues are resolved.
This is a protocol-testing setback, not a reported mainnet failure. Work on the separate Hegota upgrade continues.
For now, ETH faces two different tests: developers need to resolve the upgrade issues, while the market needs stronger price action to break its declining daily structure.
ETH/USDT closed at 2,238.67, barely moving over 24 hours (+0.03%). That calm finish doesn't erase the weakness on the daily chart.
Price remains below both the 20-day EMA (2,336.31) and 50-day EMA (2,391.92). The shorter average is also below the longer one, while recent swing highs and lows continue to slope downward.
A sustained recovery above both moving averages would be an early sign of improving momentum. Beyond that, the 2,526–2,547 zone has repeatedly attracted selling pressure, making it an important area to watch.
If ETH continues struggling below its moving averages and forms lower lows, the bearish structure remains intact. The chart doesn't yet show a reliable support zone.
🔧
Testing of the upcoming Glamsterdam upgrade uncovered compatibility issues involving changes to gas charges. Developers have paused the Hoodi testnet fork until those issues are resolved.
This is a protocol-testing setback, not a reported mainnet failure. Work on the separate Hegota upgrade continues.
For now, ETH faces two different tests: developers need to resolve the upgrade issues, while the market needs stronger price action to break its declining daily structure.
