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ETHUSD remains under selling pressure below the major trendline. Price action shows a persistent decline in the market as support levels keep failing. The $1,530 support is likely to also fail as the price returned from the major trendline. The market structure shifted bearishly after a Break of Structure (BOS) around $1,530, followed by strong bearish candles that closed below that level. Sellers regained control after the rejection at the descending trendline near $1,700.
The price has been trending below the major trendline since the beginning of this year. Looking ahead, the bearish trend is likely to continue if ETHUSD fails to break and close above the major trendline. The next major support lies around $880, and a confirmed breakdown below $1,500 could accelerate the move toward that level. If bearish volume increases and the macro trend persists, Ethereum could retest the $880 zone in the coming weeks, especially if broader market sentiment remains weak.
ETH Key Levels
Supply Levels: $ 2150, $2860, $4110
Demand Levels: $1750, $1530, $880
What are the indicators saying?
The 9-day Simple Moving Average (SMA) is currently sloping downward, reinforcing the prevailing bearish momentum. Ethereum’s price is trading below the 9 SMA, which signals continued selling pressure. The Moving Average Convergence (MACD) indicator confirms this bearish sentiment, as both the MACD line and signal line are below the zero level. The histogram also reflects increased bearish activity, showing wider red bars that suggest a growing distance between the MACD and its signal line.
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