Ethereum has broken below the critical support level at $1,797, signaling potential further downside. Currently trading around $1,773, the price appears to be losing bullish momentum. Key support zones now lie at $1,714 and $1,633.
As highlighted in the chart, if the price fails to hold these levels, ETH/USD could target the $1,566 zone next. This level may attract buyers, but a breakdown below it could lead to deeper bearish movement.
Key Levels to Watch:
Resistance: $1,797
Immediate Support: $1,714
Target Zones: $1,633 and $1,566
Technical Outlook: The market structure shows weakening support, and unless a strong reversal occurs, Ethereum may be heading lower in the short term.
As highlighted in the chart, if the price fails to hold these levels, ETH/USD could target the $1,566 zone next. This level may attract buyers, but a breakdown below it could lead to deeper bearish movement.
Key Levels to Watch:
Resistance: $1,797
Immediate Support: $1,714
Target Zones: $1,633 and $1,566
Technical Outlook: The market structure shows weakening support, and unless a strong reversal occurs, Ethereum may be heading lower in the short term.
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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.
I am a professional trading signal provider. For more updates, analysis, and signals, be sure to join our Telegram channel
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.