ETHUSD Remains Pressured Under Key Trend Resistance

ETHUSD remains pressured under key trend resistance. The overall market trend is bearish. The action of the price clearly highlights a clear downward trend, defined by a descending trendline stretching from February highs. ETHUSD is currently testing this trendline, which is near $1800, but struggles to break it decisively. Major horizontal support and resistance levels include $2150 as major resistance above, while $1530 and $1250 stand out as key supports below. The failure to breach the trendline and stay above $1800 reinforces selling pressure.

 

Given these observations, ETHUSD is projected to continue lower unless a strong bullish breakout occurs above $1800 and $2150. A rejection at the current trendline could trigger a decline toward $1530 in the short term, and a break below this level would likely open the door for a deeper fall toward $1250. If bearish momentum accelerates, further downside toward $880 could eventually come into play.

ETH Key Levels

Supply Levels: $2150, $2860, $4110
Demand Levels: $1530, $1250, $880

 

What are the indicators saying?

The ETHUSD daily chart shows bearish signals from technical indicators. Before the recent short-term pullback to the upside, the price had remained below the 9-day Simple Moving Average (SMA) around $1670, confirming the broader downside bias. Additionally, the Stochastic Oscillator is hovering above 85, indicating an overbought condition and suggesting a likely bearish reversal soon. The strong momentum upwards may be fading as the oscillator lines start to flatten, aligning with the broader bearish setup.

 

 

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