CandleFocus

Ethereum Price Analysis: ETH Risks Falling to $2.5K if This Support Breaks

The recent price action of Ethereum (ETH) indicates bearish signals as it broke below its 100-day moving average (MA), showing increased selling activity. However, the 200-day MA is still holding as the last defense for buyers, offering hope for a potential rebound. ETH is currently finding support at the $3,000 level, which is aligned with the 200-day MA. A breakdown below this level could trigger a bearish trend and push the price towards the $2,500 support zone. The Taker Buy Sell Ratio also suggests a growing dominance of sellers, indicating the possibility of a breakdown below $3,000. However, a reversal in the ratio could stabilize the price and indicate renewed buyer interest.

Related News