ETH Under Pressure: Ethereum Faces Persistent Bearish Sentiment
Ethereum’s price is currently $3,311, with a market cap of $404 billion. Over the past 24 hours, it has traded between $3,277 and $3,500, with a trade volume of $16.82 billion.
Technical analysis shows strong bearish indicators across various timeframes. The daily chart highlights a downtrend with lower highs and lows, closing recently at $3,225 amid increased trading volume, signaling strong selling pressure. The 4-hour and hourly charts confirm this bearish momentum, showing key support breaches and consolidation after sharp drops. Oscillators like RSI, Stochastic, and CCI indicate neutral positions, but other indicators such as the MACD suggest continued bearish sentiment.
Most moving averages also support a sell signal, except for the long-term 200-day EMAs and SMAs, which suggest potential support at lower levels.
Clever Robot News Desk 25th June 2024
Related Article
