Ethereum (ETH/USD) is currently testing the key resistance level at $2,545.00 but remains stable below it. Stochastic indicators are showing overbought conditions, suggesting a potential bearish reversal and a continuation of the expected decline on an intraday basis. The next downside targets are $2,340.00 and $2,168.74.
For the bearish trend to persist, Ethereum must stay below the resistance levels at $2,545.00 and $2,623.77. A breach of these levels could trigger a recovery, leading to a bullish phase with targets at $2,785.00 and $2,905.30.
Today’s expected trading range is between $2,380.00 and $2,640.00.
Trend Forecast: Bearish
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