🔥🔥🔥 #EthereumPrice Struggles to Sustain Gains: Is the Uptrend in Trouble?
Ethereum is struggling to break the $2,750 resistance and is now consolidating near $2,635, posing a risk of further declines.
1. Recent Performance: After failing to clear $2,750, Ethereum has dipped below $2,700 and the 100-hour Simple Moving Average. It also broke a key support at $2,695.
2. Current Situation: Ethereum is trading near $2,635. If it attempts a rebound, resistance levels at $2,700 and $2,735 could limit gains. A breakout above $2,735 could push the price toward $2,765 or higher.
3. Downside Risks: If Ethereum fails to rise above $2,700, it may face further losses. Key supports are at $2,635 and $2,600. A drop below $2,600 could lead to a decline toward $2,550 or even $2,440.
4. Technical Indicators: The hourly #MACD is losing bullish momentum, and the RSI is below 50, signaling potential weakness.
- Support Levels: $2,635, $2,600
- Resistance Levels: $2,700, $2,735
Source - newsbtc.com
