$ETHFI – Bearish Breakdown or Opportunity to Buy the Dip?

Current Price: $1.435 (-8.66%)

Market Overview:

• 24H High: $1.657

• 24H Low: $1.426

Moving Averages:

• MA(7): $1.516

• MA(25): $1.567

• MA(99): $1.680

Technical Analysis:

ETHFI has experienced a strong bearish momentum, pushing the price down significantly below key moving averages. The price has breached the MA(7) and MA(25), indicating a continuing downward trend.

• Downtrend Confirmation: After hitting $1.669, ETHFI has faced intense selling pressure, dropping to $1.435. The break below the MA(25) and MA(99) shows a bearish outlook.

• Volume Spike: A noticeable increase in sell volume reinforces the strength of this downtrend, with bears dominating the market.

• Support Level: ETHFI is currently testing support at $1.426, which aligns with today’s low. Further breakdown below this level could lead to accelerated losses.

• Resistance Levels: On the upside, the price would need to break above $1.516 (MA7) and subsequently $1.567 (MA25) to signal any recovery attempts.

Outlook:

With the strong downtrend and high selling volume, ETHFI remains bearish. Unless there’s a breakout above the immediate resistance levels, sellers are likely to maintain control.

Sentiment: Bearish – Traders should watch for support at $1.426 while approaching with caution.

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