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.
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.