- The bands are widening, indicating increased volatility.
- Price has been hugging the lower Bollinger Band, suggesting a strong downtrend.
- Increased Volume on Sell-Off: The recent strong bearish move was accompanied by high volume, confirming strong selling pressure.
- Possible Capitulation?: If volume spikes further while price stabilizes, it could indicate potential short-term bottoming.
- Support: Around $2,000 (psychological level).
- Resistance: Near $2,500 - $2,600 (recent breakdown level & middle Bollinger Band).
- Bearish Bias: Price action and indicators suggest further downside unless buyers step in strongly.
- Short-term Relief Bounce Possible: If ETH holds the $2,000 level, a temporary rebound could occur.
- Bearish Scenario: If ETH closes below $2,000, expect further downside toward $1,800 or lower.
- Bullish Recovery: A strong close above $2,500 would indicate potential trend reversal.
- Wait for Confirmation: Watch for a bullish reversal pattern or volume divergence before entering long positions.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
➀➁➂➃➄
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.