📉SHORT: $ETH (1H)

#ETHUSD | #ETH | #Ethereum

Current Price $2396.49

Market Cap $288.29B

Change 1h -0.55% | 24h +0.85%

Hourly Indicators:

• RSI: 38 - Neutral 🟠

• MACD: -4 - Bearish 🔴

• EMA: 2433 - Below 🔴

Analysis:

Ethereum recently breached the critical support level at $2,900 in early August, plunging to a low of $2,300. Following the dip, it attempted a recovery, retesting the broken support level as expected. The attempt, however, shows signs of resistance around the $2,600 mark.

Price Targets:

With the current bearish momentum taking hold, Ethereum seems poised to target the $2,000 zone next. Immediate resistance levels might form at around $2,400 and $2,600, making these potential points of interest for reversal or further decline. Stay tuned for more moves!

#eth $ETH