🚨 Bearish Signals for ETH 🚨
Ethereum is showing worrying signs of weakness on the daily chart, pointing towards potential downside:
1️⃣ Lower Highs Formation
ETH continues to print lower highs, reflecting waning bullish momentum. Buyers are struggling to sustain rallies, indicating that sellers remain in control.
2️⃣ Bearish Divergence
A clear bearish divergence is visible on the RSI (Relative Strength Index). While price attempts modest recoveries, momentum indicators are declining—often a precursor to a significant drop in price.
3️⃣ Weak Volume Support
Trading volumes have been consistently shrinking, suggesting a lack of conviction among buyers. Without volume backing, ETH risks breaking below key support levels.
📉 Key Levels to Watch:
Support: 3400 usd
Resistance: 3900 usd
A break below critical support could trigger cascading sell-offs as market sentiment turns more bearish.
