Hello everyone,
Ethereum recently dropped from the 2,340 USD area to around 2,295 USD with a sharp increase in volume. This move looks more like a liquidity sweep below short-term support rather than the start of a major bearish trend.
Price is currently trading below short and mid-term EMAs, showing ongoing selling pressure. However, the broader bullish structure remains intact since higher timeframe higher lows are still holding.
The key support zone right now is between 2,260 and 2,240 USD. If ETH retests this area with weakening selling volume, it could signal supply absorption and trigger a rebound toward 2,340 USD, followed by 2,380–2,420 USD.
If 2,240 USD breaks with strong volume, the next downside target could be 2,180 USD. Macro pressure from inflation concerns and the Fed’s hawkish stance continues to weigh on crypto markets in the short term.
Ethereum recently dropped from the 2,340 USD area to around 2,295 USD with a sharp increase in volume. This move looks more like a liquidity sweep below short-term support rather than the start of a major bearish trend.
Price is currently trading below short and mid-term EMAs, showing ongoing selling pressure. However, the broader bullish structure remains intact since higher timeframe higher lows are still holding.
The key support zone right now is between 2,260 and 2,240 USD. If ETH retests this area with weakening selling volume, it could signal supply absorption and trigger a rebound toward 2,340 USD, followed by 2,380–2,420 USD.
If 2,240 USD breaks with strong volume, the next downside target could be 2,180 USD. Macro pressure from inflation concerns and the Fed’s hawkish stance continues to weigh on crypto markets in the short term.
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Join our group and unlock real-time Forex, gold, and crypto signals — sharp insights, fast alerts, and opportunities you don’t want to miss.
Join now: t.me/+dfxDTk_DRtg4Mzll
Join now: t.me/+dfxDTk_DRtg4Mzll
Related publications
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.