🚨🚨$ETH /USDT Analysis – Market Weakness Showing? 🚨🚨

Ethereum is currently trading at $2,619.81 USDT, showing a slight upward movement of +0.24% for the day. However, let’s dive into the signals that the market might be giving us for the next move.

🚨 Key Insights:

• 24h Range: ETH has been fluctuating between $2,591.58 and $2,648.37 USDT in the last 24 hours, indicating that the price is struggling to break out of this tight range.

• KD Indicator: The K-value is sitting at 29.01, while the D-value is at 34.47, suggesting that Ethereum is approaching oversold conditions but still has room for further decline before a possible rebound. With J at 18.09, the market appears cautious and could lean bearish in the short term.

🚨 Key Levels to Watch:

• Resistance: The chart shows a clear resistance at $2,648 USDT, which ETH has tested but failed to break convincingly. A breakout above this level could ignite more bullish momentum.

• Support: The key support zone lies around $2,590 USDT. A break below this level could lead to further downside toward $2,560 USDT, where stronger support resides.

📉 Bearish Scenario:

• If Ethereum cannot hold above $2,620 USDT, a test of the $2,590 USDT support is highly likely. Failure to defend this support could see ETH dropping toward the $2,560-$2,550 USDT range.

🚀 Bullish Potential:

• If ETH can reclaim $2,648 USDT and push higher, we could see a quick rally toward the $2,660-$2,680 USDT zone, but this will require strong buying volume, which the order book suggests may be lacking right now.

📝 Conclusion:

ETH/USDT is in a consolidation phase, with both bulls and bears hesitating to take full control. Keep an eye on the $2,590 USDT support and $2,648 USDT resistance. A break on either side could dictate the next major move, with downside risks more pronounced in the immediate term. Stay cautious as volatility looms!

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