Ethereum has been holding strong while Bitcoin wavers. Despite BTC slipping below $96,000, ETH has managed to stay above $2,700, showing resilience against broader market weakness. But with volatility rising and a massive $1.5 billion Bybit hack, questions arise: Was Ethereum’s price surge an artificial move, and is a reversal ahead?
A Short-Term Rally or the Start of a Major Move?
Ethereum’s price made a strong attempt at $2,900 but failed to hold, leading to a drop back below $2,700. The key ascending trendline, which has acted as support for five months, is now being tested.
Bearish Signs Emerging?
The CMF (Chaikin Money Flow) dipped below 0, signaling weakening buying pressure.
DMI indicators deviated, failing to confirm a bullish breakout.
A bearish candle formed after rejection at $2,900, hinting at possible further downside.
Critical Levels to Watch
📌 If ETH holds above $2,650, a rebound toward $2,772 resistance could be in play.
📌 If ETH fails to defend the trendline, support at $2,567-$2,541 could come into focus.
Ethereum’s fate will depend on whether buyers step in to defend support or if bearish momentum takes control. For now, the bullish narrative isn’t over, but signs of fading momentum are hard to ignore.
A Short-Term Rally or the Start of a Major Move?
Ethereum’s price made a strong attempt at $2,900 but failed to hold, leading to a drop back below $2,700. The key ascending trendline, which has acted as support for five months, is now being tested.
Bearish Signs Emerging?
The CMF (Chaikin Money Flow) dipped below 0, signaling weakening buying pressure.
DMI indicators deviated, failing to confirm a bullish breakout.
A bearish candle formed after rejection at $2,900, hinting at possible further downside.
Critical Levels to Watch
📌 If ETH holds above $2,650, a rebound toward $2,772 resistance could be in play.
📌 If ETH fails to defend the trendline, support at $2,567-$2,541 could come into focus.
Ethereum’s fate will depend on whether buyers step in to defend support or if bearish momentum takes control. For now, the bullish narrative isn’t over, but signs of fading momentum are hard to ignore.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.