Ethereum Price Analysis: Can ETH Bounce Back Before $1.5K Comes Into Play?
🔄 Ethereum has rebounded to $1.82K after a selloff that reached $1.71K, but the overall bearish trend persists with large futures orders indicating continued selling pressure.
📉 The daily RSI is near 25, suggesting oversold conditions that could lead to a relief rally; however, reclaiming the $1.90K–$1.98K resistance zone is crucial for a more significant recovery.
🐋 Recent whale activity during the decline raises concerns about sustained selling pressure, emphasizing the need for a price confirmation to determine if the downturn has truly ended.
🔄 Ethereum has rebounded to $1.82K after a selloff that reached $1.71K, but the overall bearish trend persists with large futures orders indicating continued selling pressure.
📉 The daily RSI is near 25, suggesting oversold conditions that could lead to a relief rally; however, reclaiming the $1.90K–$1.98K resistance zone is crucial for a more significant recovery.
🐋 Recent whale activity during the decline raises concerns about sustained selling pressure, emphasizing the need for a price confirmation to determine if the downturn has truly ended.