Ethereum's downward trend has intensified today, with the price breaking below the psychological level of $2300, reaching a low of $2,235.66, a monthly decline of over 31%. The current technical outlook shows signs of a complete breakdown and overselling.
Key technical signals: Oversold indicators: The RSI indicator shows that the 4-hour chart has entered an extreme oversold zone at 19.6, and the daily chart is only at 24.0, the lowest level in recent times. Moving averages broken: The price is below all major moving averages, with $2,824 (EMA 20) becoming a key resistance level for recent rebounds. Key support: Close attention should be paid to the support in the $2,235 - $2,314 range. If this support is broken, the price may further decline to $2,000.
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Ethereum's downward trend has intensified today, with the price breaking below the psychological level of $2300, reaching a low of $2,235.66, a monthly decline of over 31%. The current technical outlook shows signs of a complete breakdown and overselling.
Key technical signals:
Oversold indicators: The RSI indicator shows that the 4-hour chart has entered an extreme oversold zone at 19.6, and the daily chart is only at 24.0, the lowest level in recent times.
Moving averages broken: The price is below all major moving averages, with $2,824 (EMA 20) becoming a key resistance level for recent rebounds.
Key support: Close attention should be paid to the support in the $2,235 - $2,314 range. If this support is broken, the price may further decline to $2,000.