ETHUSD Continues Downtrend With Bearish Signals From Key Indicators

ETHUSD continues its downtrend with bearish signals from key indicators. Price action shows a descending trendline from the previous high, acting as strong resistance. ETHUSD recently tested the $2,150 supply zone, where it faced rejection, leading to continued selling pressure. The formation of lower highs and lower lows further reinforces the bearish structure. The last significant low at $1,750 has been revisited, and a failure to hold this level could open the door for further declines.

Given the current market structure, ETHUSD is likely to continue its downward trajectory. If the price fails to reclaim the $1,870 level, the next major support lies around $1,530, where buyers may attempt to stabilize the market. A confirmed breakdown below this level could accelerate the decline toward $1,250. Any potential recovery would require a break above the $2,150 resistance zone and the descending trendline.

ETH Key Levels

Supply Levels:. $2150, $2860, $4110
Demand Levels: $1750, $1530, $880

https://www.tradingview.com/x/DJt79Y3n/

What are the indicators saying?

The key indicators reveal that the overall trend of the market is strongly bearish. The 9-day Simple Moving Average (SMA) is positioned above the current ETHUSD price, confirming the ongoing bearish trend. The Stochastic Oscillator is deep in the oversold region, with the %K and %D lines hovering around 8 and 19, respectively, suggesting that the market is weak. A lack of bullish crossover in this zone implies that selling pressure remains strong, reducing the likelihood of a near-term reversal.

Learn from market wizards: Books to take your trading to the next level

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Ltd. ADVFN Ltd does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Comments are closed

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  ADVFN News Bulletin

• 

  Dan Atkinson

• 

  James Cummings

• 

  Trader Tim