Technical Analysis ($ETH /USDT):
Current Price: $2,589.21
Resistance Level: $2,700.00
Support Level: $2,555.00
Breakout Possibilities:
Bearish Scenario: The chart indicates a potential bearish trend as ETH has recently broken below the $2,700 resistance level and is now testing the support at $2,555.00. If this support does not hold, the price may continue to decline towards lower levels, indicating further bearish momentum.
Bullish Reversal: However, if the support at $2,555.00 holds, there could be a chance for a reversal. The price might attempt to recover and move back towards the $2,700 resistance level.
The market is currently showing signs of weakness, so it’s important to watch the $2,555.00 support level closely to determine the next direction.
Let me know if there’s anything else you need!
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