Ethereum (ETH/USD) Price Analysis
Expected Scenario
Ethereum price (ETH/USD) has declined sharply at today’s open, reaching our extended target of $2905.30. The ongoing negative pressure suggests that the price may surpass this level, leading to further losses down to $2623.80.
Supporting Factors
We anticipate a continued decline on both the intraday and short-term basis. However, if the price consolidates above $2905.30, it might prompt a recovery attempt, with potential gains starting by revisiting the $3132.80 area.
Expected Trading Range
Today’s anticipated trading range for Ethereum is between the $2750.00 support level and the $3050.00 resistance level.
Trend Forecast
The trend forecast for Ethereum remains bearish.
Related topics: