🚨 Technical analysis for the currency $ETH | Daily frame

🔸 The price has entered a clear downward trend after failing to stabilize above the supply areas, and has started recording lower highs and lower lows, confirming the sellers' control over the current movement.

🔸 The area 1,850 – 1,900$ represents an important current support, and the price is approaching it after a strong downward wave, and we may see a temporary technical rebound from it as long as it is not broken by a clear daily close.

🔸 In the event of breaking this area, the drop may extend towards deeper demand areas near 1,700$ then 1,550 – 1,600$ where previous buying liquidity areas appear.

🔸 On the upside, the area 2,200 – 2,300$ remains the first main resistance, followed by a stronger supply area between 2,600 – 2,750$, and any rise towards these levels is considered a correction within the downward trend unless it is broken and stabilized above them.

🔸 The RSI indicator is moving below the level of 30, indicating that the price has entered an oversold area, which may support a short-term rebound, but without changing the overall downward trend so far.

❗️ This is a technical analysis and not an investment advice.