Altcoins News
By Maheen Hernandez
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Bearish Market Structure and Price Action. Ethereum’s daily chart reveals a strong bearish market structure.
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Short-Term Bounce Potential. Despite the continued downtrend, a short-term bounce could still be on the horizon.
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Key Support and Liquidation Levels. Looking ahead, Ethereum’s next significant support is at $1,544, which aligns with the potential…
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1-Week Liquidation Heatmap and Short-Term Range Formation. The 1-week liquidation heatmap offers more insight into the short-term trend.
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Conclusion: When to Consider Going Short. While Ethereum may experience a minor bounce in the near future, the overall market conditions…
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Ethereum (ETH) has been on a steady decline, recently falling below the critical $2,000 mark, a level it hadn’t breached since November 2023.
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Ethereum’s daily chart reveals a strong bearish market structure. The price has already broken the 23.
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The On-Balance Volume (OBV) indicator continues to decline, suggesting that selling pressure remains elevated.
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Despite the continued downtrend, a short-term bounce could still be on the horizon. The $2,100 region is a potential target if Ethereum experiences a price rebound.
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The declining OBV and the inability of Ethereum to hold above key resistance levels indicate that a consolidation phase has not yet started.
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To the north, the $2,360 and $2,872 levels are marked as strong resistance zones, but given the current market dynamics, these prices seem out of reach in the short term unless…
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The 1-week liquidation heatmap offers more insight into the short-term trend. It suggests that Ethereum could form a range between $1,840 and $1,960.
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