NEWSLETTER
ethereum is trying to recover after months of bearish pressure, but the key levels of resistance and liquidation dynamics suggest that caution is still justified.
Technical analysis
By Edrakhshi
The daily table
In the daily table, eth has managed to bounce from the support zone of $ 1,900 and is now pushing towards the $ 2,200 resistance area. However, the asset remains well below the 200 -day mobile average, which is around $ 2,900, which continues to act as an important obstacle.
The RSI is gradually climbing, but has not yet entered the territory of overcompra. Unless eth is decisively broken above $ 2,400 and is maintained, the bearish trend structure remains intact, with the levels of $ 1,900 and $ 1,600 that act as key supports to see.
The 4 -hour table
The 4 -hour table shows ethereum forming an ascending channel, recently pushing towards the upper limit about $ 2,150. This rally of the $ 1,900 support zone has been strong, but the asset approaches a confluence of resistance levels, including the $ 2,200 area marked by previous breakdowns.
RSI has also entered the overcompra region, hinting at the possible exhaustion. A rupture above $ 2,200 could change the bias in the bullish, while the rejection of the current range could withdraw eth to the $ 1,900 zone.
Feelings analysis
Long settlement
The long liquidations table reveals an acute increase in recent months, particularly during the fall of eth below $ 2,000. These mass settlements annihilated long positions used, contributing to greater volatility. Although liquidation events have cooled, the market is still vulnerable to acute movements if the leverage accumulates again.
The previous peaks indicate a fragile feeling among speculators, and any acute rejection from resistance areas could trigger another waterfall of long liquidations, reinforcing the bearish pressure. In general, prices stability and sustainable recovery will require a reduction in excessive leverage and a stronger demand based on the point.
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