Ethereum is still under pressure as the broader market morale is struggled for the upscale shift. The price continues to move around the main demand areas, with slight signs on the immediate force of bulls, while derivatives and activity on the chain show signs of caution.
Technical analysis
Daily chart
In the daily time frame, ETH failed to recover over the previous support that turned into resistance near $ 2000. The daily structure remains declining, and rejection has increased from the supply zone ranging from $ 2,200 to $ 2000.
The 200 -day moving average, which is currently placed above $ 2800, emphasizes the broader declining bias, while the relative strength index in the lands of sale, indicates that the negative momentum still exists but is likely to weaken. The next strong support lies near the $ 1550 area, which is likely to be touched soon.
The graph for 4 hours
Zoom in the graph for 4 hours, ETH formed a horizontal unification pattern, with a decrease in its highest levels against horizontal support near $ 1750. The original re -paved the $ 1900 area, but was quickly rejected, and failed to create any upcoming outbreak.
RSI also retreated from its previous apostasy, indicating poor momentum. A certain collapse is probably without supporting $ 1750 to an additional side, while the above -style closure will be the first sign of short -term power.
Feelings Analysis
by Edris derakhshi (Tradingrge)
Exchange reserves
From the perspective of feelings and open interest, the ETHEREUM Open attention has been high compared to historical values in recent years, even as the price continues to slide.
This indicates the flow of aggressive short sites or late financial leverage. If this open attention is resting quickly, this may lead to short pressure on any upward fluctuations. However, as long as it is still high while the prices decrease, it adds pressure and the risk of continuing to filter, especially near the main support areas.
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