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⛓️ Crypto🔴 BearishImportance 6/10Actionable
Ethereum Price Rejected Again, Market Watches Key Support Closely
🤖AI Summary
Ethereum price recovered above $2,000 but faces rejection at the $2,090 resistance level, with technical indicators showing bearish momentum. The cryptocurrency remains at risk of further decline if it fails to break above key resistance levels.
Key Takeaways
- →ETH recovered above $2,000 but struggled to clear the $2,090 resistance level and is now trading below $2,050.
- →An expanding triangle pattern is forming with key support at $2,020 on the hourly chart.
- →Major resistance sits at $2,090 (61.8% Fib level) with potential upside targets at $2,150 and $2,220 if cleared.
- →Downside risks include a potential decline to $1,990 support or lower if ETH fails to hold above $2,020.
- →Technical indicators show bearish momentum with MACD in bearish zone and RSI below 50.
Mentioned Tokens
$BTC$69,542▼-0.8%
$ETH$2,020▼-1.1%
Non-custodial · Your keys, always
Read Original →via NewsBTC
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