ETH Alert: Testing the $2,000 Support! 📉
Ethereum $ETH ETH is showing some serious volatility today! We just witnessed a sharp "red candle" drop, bringing the price down to $2,006.82, just a hair above the critical $2,000 psychological level.
🔍 Technical Breakdown:
Support Zone: The price is currently hovering around the MA(99) (purple line) at 2,007.51. This is a major "make or break" zone for the bulls.
Moving Averages: We’ve seen a bearish crossover where the short-term MA(7) (yellow) has plunged below the MA(25) (pink), signaling heavy downward momentum in the 1H timeframe.
Volume Spike: Notice that massive red volume bar? It shows significant selling pressure, but also suggests we might be reaching a "selling climax."
💡 What’s Next?
Bullish Scenario: If ETH holds above $2,000, we could see a technical rebound back toward the $2,035 resistance level.
Bearish Scenario: A clean break below $1,992 (today’s low) could open the doors for a deeper correction toward the next support tier.
Strategy: Stay patient! Entering here is risky until we see a confirmed "green reversal" candle or a successful retest of the $2,000 floor.
What do you think? Are you Buying the Dip or waiting for lower prices? 👇
#Ethereum #ETH #CryptoTrading #TechnicalAnalysis #BinanceSquare
