ETHUSD Shows Strong Bearish Momentum with Lower Price Targets

ETHUSD shows strong bearish momentum with lower price targets. The market is consistently forming lower highs and lower lows, indicating a well-defined downtrend. The price has recently broken below the previous support level of $2,950 and is now hovering around $2,660, suggesting weakness in buying strength. A descending trendline has been respected multiple times, confirming sustained bearish pressure. The failure to reclaim the $2,950 level further strengthens the argument for a deeper decline.

Looking ahead, ETHUSD is likely to face further downside pressure. If the price continues to reject the descending trendline and fails to reclaim $2,950, a drop toward the $2,630 support level is probable. A confirmed break below this zone could accelerate selling momentum toward $2,150, with the next major demand zone sitting at $1,530. If market sentiment remains bearish, ETHUSD may keep crashing until stronger buyers eventually step in.

ETH Key Levels

Supply Levels: $4100, $4870, $5500
Demand Levels: $2150, $1530, $880

What Are the Indicators Saying?

The Moving Average Convergence Divergence (MACD) indicator is showing strong bearish momentum, with the MACD line significantly below the signal line, confirming a downward trend. Additionally, the MACD histogram is in negative territory, reinforcing selling pressure. The Simple Moving Average (SMA) of 9 periods is at $2,670, currently acting as dynamic resistance, preventing price recovery. These indicators suggest that ETHUSD is struggling to regain bullish traction and may continue to decline in the short term.

 

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