ETHUSD Faces Rejection at Resistance Zone

ETHUSD faces rejection at resistance and shows bearish continuation signals. Price action shows that ETHUSD is respecting a descending trendline, facing repeated rejections near $3,320.0. The price recently failed to sustain above $3,255.0, reinforcing the selling pressure. The bullish order block around $2,400.0 remains critical, aligning with previous demand levels. If the price breaks below this area, it could accelerate the bearish trend.

ETHUSD is likely to continue its downward move until the bullish order block is reached. A breakdown of this zone could push the price lower toward $2,140.0 and potentially $2,120.0. However, if the price manages to reclaim the the bullish order block or the $2100.0 support, it may challenge the trendline resistance again. Until then, the bearish structure remains intact, with sellers in control.

ETH Key Levels

Demand Levels: $4100.0, $4870.0, $5500.0
Supply Levels: $2100.0, $1530.0, $880

What Are the Indicators Saying?

The indicators suggest a bearish outlook for ETHUSD as the price struggles below key resistance levels. The 9-period SMA at $3,240.0 is acting as dynamic resistance, preventing upward momentum. The MACD is showing bearish divergence, with the MACD line hovering near the signal line and histogram bars declining, indicating weakening bullish pressure. If momentum continues to fade, a bearish crossover could confirm further downside movement.

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