Ethereum Technical Outlook 🧠
ETH is currently in a downtrend on both the daily and 4-hour timeframes 📉.
The $2100–$2150 range, which previously acted as a major support level, has now turned into a key resistance zone 🔄.
Price is moving within an ascending channel 📈 and approaching a supply zone located between $1790–$1820 🟥.
For a confirmed trend reversal, Ethereum must break above the red descending trendline 🔻 and flip the key resistance zone (marked on the chart) into support ✅.
Until then, bearish momentum remains dominant.
ETH is currently in a downtrend on both the daily and 4-hour timeframes 📉.
The $2100–$2150 range, which previously acted as a major support level, has now turned into a key resistance zone 🔄.
Price is moving within an ascending channel 📈 and approaching a supply zone located between $1790–$1820 🟥.
For a confirmed trend reversal, Ethereum must break above the red descending trendline 🔻 and flip the key resistance zone (marked on the chart) into support ✅.
Until then, bearish momentum remains dominant.
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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.