Ethereum (ETH/USD) briefly gained traction before encountering resistance near the $2,500 level. The price has since begun to decline, suggesting a potential resumption of the broader bearish trend. This outlook is supported by the negative signal from the stochastic indicator.
For the bearish trend to strengthen, Ethereum needs to fall below the $2,310 support level. A successful break of this level would increase the likelihood of a decline toward the next major target at $2,168.74.
Conversely, if Ethereum rises above $2,545 and subsequently $2,623.77, it could shift the trend to bullish.
Today’s expected trading range is between $2,280 support and $2,500 resistance.
Trend Forecast: Bearish
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