Crypto Market Bleeds: Bitcoin, Ethereum, Solana Prices Suddenly Drop
Market Overview: Bitcoin and Ethereum experienced daily declines of 0.3% and 0.9%, respectively, but both maintained weekly gains of 1.5% and 5.3%. Other cryptocurrencies like XRP, Solana, and Dogecoin also saw slight daily drops while still closing the week positively.
Altcoin Performance: Despite the overall market pullback, altcoins such as Bedrock and FUNToken surged significantly, with Bedrock rising by 60.7% and FUNToken by 38.8%, highlighting strong interest in speculative assets amidst the downturn.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH) As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 732.999 | 1240.399 | 1699.839 | 2207.239 | 2666.679 | 3174.079 | 3633.519 |
| Fibonacci | 1240.399 | 1609.732 | 1837.906 | 2207.239 | 2576.572 | 2804.746 | 3174.079 |
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