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ethereum's attempt to recover the bullish impulse has affected an obstacle, since the price failed to break the crucial resistance level of $ 2,160. After showing signs of recovery, eth faced a strong sales pressure at this key level, avoiding a sustained escape and disappointing bullish merchants who expected more rise.
Their inability to overcome this resistance suggests that bears still have control, maintaining the price of ethereum under pressure. With the impulse that fades and the market The feeling becomes cautious, the merchants are now observing the key support areas to determine the next movement.
Batter pressure assembly: What's still for ethereum?
ethereum faces the growing downward pressure since its last attempt at recovery was rejected to the resistance level of $ 2,160. The failed break has reinforced the bassist feelingwith key technical indicators that indicate weakness. If buyers do not intervene, eth could be at risk of deeper decreases in the short term.
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One of the main warning signals is the weak volume during the attempt to recover. A strong rupture generally requires a significant purchase interest, but ethereum's rally lacked impulse, which facilitated sellers to recover control. This lack of conviction of Bulls suggests that the upward movement was not sustainable, allowing bears to push the lowest prices.
In addition, the relative resistance index (RSI) has Breakingmoving below the key thresholds that indicate weakening of the bullish force. The current RSI decrease shows that the purchase pressure is fading, which makes it difficult to develop an impulse up. If the RSI continues with trends down, it could confirm even more a prolonged bearish phase.
The divergence of the convergence of the mobile average (MACD) has also become negative, with a decomposition below the signal line and a wide gap between the MACD and its mobile average. This crossover indicates that the bearish impulse is accelerating, reducing the possibilities of immediate recovery. When combined with other bearish signs, Macd's breakdown further supports the case of a continuum disadvantage.
Looking to the future, eth can try the key support areas. However, a strong rebound of the lowest levels could offer bullfighting Another opportunity to recover the lost terrain. For now, the graphics suggest that ethereum remains vulnerable to greater decreases.
Support levels to see: Can bulls avoid greater decrease?
With attention now by resorting to the key Support levelsThe first important support to see is around $ 1,523, a level that previously acted as a short -term demand zone. If ethereum remains on this area, it could provide bulls with a base for another bounce attempt. However, a break below this level could indicate a growing bearish domain, increasing the risk of deeper losses.
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Below $ 1,523, the following key support is at $ 902, aligning with previous price reactions and acting as a psychological level for merchants. A failure to maintain here can accelerate the sales pressure, pushing eth towards another support below.
Istock's prominent image, tradingView.com graphics
(Tagstotranslate) eth
