Ethereum (ETHUSD) has started the day with a decline, approaching the $2,400 support level. This movement supports the continuation of the anticipated bearish trend for the near term. Additionally, the stochastic indicator shows a loss of positive momentum, reinforcing the bearish outlook.
The initial target for Ethereum is set at $2,340, with a potential further decline to $2,168.74 if the first target is breached. Conversely, a break above $2,545, followed by $2,623.77, would invalidate the current negative scenario and could lead to a price reversal.
The expected trading range for today is between $2,310 (support) and $2,570 (resistance).
Trend Forecast: Bearish
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