Ethereum Reclaims $2,100 Zone Amid Fragile Recovery
- Fragile Recovery: Ethereum (ETH) has reclaimed the $2,100 zone, yet traders caution that the bounce remains fragile below the $2,150 resistance, indicating potential for further downside risks.
- Bearish Indicators: Technical indicators reveal that ETH has lost a rising support line on the 4-day chart, currently trading at $2,108, suggesting sellers are regaining control in the short term, which could lead to a price drop towards $2,080.
- Key Resistance Analysis: ETH has cleared the 38.2% Fibonacci retracement from the $2,197 high to the $2,075 low, with the 61.8% retracement near $2,150; a decisive break above $2,200 could pave the way for a rise towards $2,220 and potentially $2,300.
- Market Volatility Context: Following a turbulent period where ETH rebounded from $1,837 to a high of $2,450, it ended April down 22.8%, and the current consolidation phase may lead to a retreat towards the psychological $2,000 mark, with major support at $1,940.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 4 indicators are flashing buy, while 4 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 crypto.
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 | 1765.487 | 1921.358 | 2063.177 | 2219.048 | 2360.867 | 2516.738 | 2658.557 |
| Fibonacci | 1921.358 | 2035.076 | 2105.331 | 2219.048 | 2332.766 | 2403.021 | 2516.738 |
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