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The attempt to recover the stubborn Ethereum shoots hit the road block, because the price did not break the key resistance level of USD 2160. After demonstrating signs of regeneration, ETH stood in the face of powerful sales pressure at this key level, preventing a long time Breakout and disappointing stubborn traders who were hoping for further advantage.
His inability to move this resistance suggests that the bears are still controlled, maintaining the price of Ethereum under pressure. With a disappearing rush and market Sentiment changes carefully, traders carefully observe key support zones to determine the next move.
Bear pressure fastening: What next for Ethereum?
Ethereum faces the growing inheritance pressure, because his last recovery attempt was rejected at the level of USD 2160. Failed breakthroughs strengthened the bears sentimentwith key technical indicators of signaling. If the buyers do not enter, ETH may be threatened with a deeper fall in the near future.
One of the main warning signs is the destitute volume when trying to recover. A powerful breakthrough usually requires significant interest in buying, but therefore Ethereum had no pace, which makes it easier for sellers to regain control. This lack of conviction from Bulls suggests that the upward movement was not balanced, which allows a bear to lower prices.
In addition, it has a relative force indicator (RSI) brokenPassing below key thresholds that indicate a weakness of stubborn strength. The current decreasing RSI shows that the pressure pressure disappears, which hinders Ethereum for the construction of the momentum up. If the RSI is still popular down, this can additionally confirm the extended bear phase.
The average mobile convergence (MacD) has also changed negative, with a distribution below the signal line and the expanding gap between MacD and its moving average. This crossover indicates that the bear’s rush accelerates, reducing the risk of immediate recovery. In combination with other bears, the division of MacD additionally supports the matter for the further drawback.
Looking to the future, ETH can test key support zones again. However, a powerful reflection from lower levels can offer bulls Another chance to regain lost land. For now, the charts suggest that Ethereum remains susceptible to further declines.
Support levels for watching: can bulls prevent further decline?
Paying attention to the key now support levelsThe first solemn support for viewing is around USD 1,523, which previously acted as a brief -term demand zone. If Ethereum persists over this area, it can provide the bulls with the basis for another attempt to reflect. However, the break below this level can signal the growing dominance of bears, increasing the risk of deeper losses.
Below 1,523 USD, the next key support is 902 USD, in accordance with previous price reactions and acting as a psychological level for traders. Failure to comply here can speed up the pressure for sale by pushing ETH towards another support below.
A distinguished painting from Istock, chart from tradingview.com
