Urgent Warning: Ethereum Price Targets Amidst Crypto Crash Chaos

In the latest analysis of the #Ethereum price on the 4-hour chart, $ETH appears to be navigating a turbulent market environment. Closing prices have been hovering around key support and resistance levels, suggesting a potential for both upward and downward movements in the near term.

Recent closing prices for Ethereum have been fluctuating between $2,881.93 and $3,059.7, indicating a range-bound market. The significant resistance levels are identified at $3,032.55 and $3,042.26, with an intermediate resistance at $2,965.57. On the support side, the critical levels to watch are $2,901.6, $2,889.92, and $2,881.93.

Currently, Ethereum's price is showing signs of a potential upward movement towards the $2,965.57 resistance level. A successful breach above this point could propel the price towards the next resistance at $3,032.55. Conversely, failure to maintain above the $2,901.6 support level may lead to a decline, testing the $2,889.92 and $2,881.93 support levels.

The Exponential Moving Averages (EMAs) highlight the market's bearish sentiment. The 9 EMA is consistently below the 20 EMA, indicating downward pressure. This alignment suggests that the bearish trend might continue unless there is a significant upward momentum.

Meanwhile, the Moving Average Convergence Divergence (MACD) further supports the bearish outlook. The MACD line remains below the signal line, and the negative histogram values are showing a decrease. This suggests the bearish momentum is weakening slightly but still present. 

The Relative Strength Index (RSI) is in the oversold territory as well, with values ranging from 11.21 to 22.06. This extreme oversold condition hints at a potential reversal or at least a corrective upward movement in the short term.  #ETH #TrendingPredictions #altcoins
The full analysis and trade strategy were originally posted on www.ecoinimist.com.