- The short-term Ethereum prize for prediction was a bouncing to $ 2,000.
- In the coming weeks, more seemed to lose because Bulls had little strength to stop the sellers.
Ethereum [ETH] Has fallen under the lows of November 2024. At the time of the press, it was under the psychological level of $ 2,000 that it last tested in November 2023. This was worrying for holders. Eth/BTC reached a layer that is no longer seen since December 2020.
The technical indicators showed that the downward trend has not yet been taken in a consolidation phase. Bearish goals in the south were emphasized- How likely is it likely that Ethereum reach these support levels?
ETH is again $ 1,950 as resistance, time to go short?
Source: ETH/USDT on TradingView
The daily graph reveals a solid bearish market structure. The 23.6% southern Fibonacci extension level at $ 1,944 has been broken and re -tested as resistance.
The OBV continues to fall, which points to raised sales pressure, while the RSI remains under the neutral 50 mark. In the past two weeks, however, a bullish divergence has formed on the RSI, which suggests that the potential for a price bounce.
If a bouncer occurs, the $ 2,100 area could serve as a short -term objective before it experiences resistance.
The falling OBV and price trend indicate that a consolidation phase has not yet started. A range of reach, accompanied by a rising BBV, would signal the accumulation, but Ethereum horses still have control.
As a result, Ethereum will probably continue its downward trend in the coming weeks, with the next level of support at $ 1,544.
The 6-month liquidation heat showed that the $ 1.6k $ 1.8k area was filled with a dense cluster of liquidation levels. This made it a good price target and also an excellent candidate for a bullish reversal.
In the north, a strong magnetic zone was noticed at $ 2,872 and a less intense at $ 2,360.
To gauge the short-term trends, the 1-week liquidation heat map was analyzed. It showed that a potential formation of the short -term range between $ 1,840 and $ 1,960.
That is why traders should be sharp if the price bouncer seems to block near the $ 2K.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer