1. Broken uptrend
The black upward trend line has been clearly broken down.
➡️ This is a signal of a change in the market structure from uptrend → downtrend.
⸻
2. The current candle is under the important support of USD 3,070
You marked the ~3070 level as previous support.
Now the price is clearly below it, which suggests:
• breaking support,
• a retest from below may occur,
• continuation of declines is likely.
⸻
3. Another important support on the chart
I see strong levels:
🔴 #1 Support: $2,830 - $2,900 (current price)
This is the zone where the price is trying to hold – but it looks like there is a weak reaction.
🔴 Backer #2: $2,147
This is a wide zone where the upward impulse previously began.
➡️ If ETH drops below 2800-2830, the next logical target is 2150-2200.
⸻
4. RSI (1W) shows a downward trend
• RSI is around 40, which is close to the oversold zone.
• The RSI trend has been down for months.
• No bullish divergence (no trend reversal signal).
➡️ This supports the narrative of further declines.
⸻
5. Candle structure - clear downward momentum
Some previous candles:
• large red bodies,
• no aggressive buying,
• reflections are weak,
• The weekly candle currently looks bearish.
⸻
📊 Technical Summary
Based on the chart:
Short-term and medium-term trends: downward
The price broke key supports
Most likely scenario:
➡️ Continued declines to USD 2,150-2,200
if the 2830 level is broken and the weekly candle closes below.
⸻
📈 When would things look like they would turn around?
Only if:
✔️ Price will return above 3070
✔️ And will maintain a weekly close above this level
✔️ RSI will bounce up and divergence will appear
Then we can talk about a greater chance of returning to 3,500 and beyond.
The black upward trend line has been clearly broken down.
➡️ This is a signal of a change in the market structure from uptrend → downtrend.
⸻
2. The current candle is under the important support of USD 3,070
You marked the ~3070 level as previous support.
Now the price is clearly below it, which suggests:
• breaking support,
• a retest from below may occur,
• continuation of declines is likely.
⸻
3. Another important support on the chart
I see strong levels:
🔴 #1 Support: $2,830 - $2,900 (current price)
This is the zone where the price is trying to hold – but it looks like there is a weak reaction.
🔴 Backer #2: $2,147
This is a wide zone where the upward impulse previously began.
➡️ If ETH drops below 2800-2830, the next logical target is 2150-2200.
⸻
4. RSI (1W) shows a downward trend
• RSI is around 40, which is close to the oversold zone.
• The RSI trend has been down for months.
• No bullish divergence (no trend reversal signal).
➡️ This supports the narrative of further declines.
⸻
5. Candle structure - clear downward momentum
Some previous candles:
• large red bodies,
• no aggressive buying,
• reflections are weak,
• The weekly candle currently looks bearish.
⸻
📊 Technical Summary
Based on the chart:
Short-term and medium-term trends: downward
The price broke key supports
Most likely scenario:
➡️ Continued declines to USD 2,150-2,200
if the 2830 level is broken and the weekly candle closes below.
⸻
📈 When would things look like they would turn around?
Only if:
✔️ Price will return above 3070
✔️ And will maintain a weekly close above this level
✔️ RSI will bounce up and divergence will appear
Then we can talk about a greater chance of returning to 3,500 and beyond.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.