📊📉📈ETH/USDT Analysis: Bearish Pressure and Where the Price Might Move

Greetings, crypto community! Let's take a look at the ETH/USDT chart, which looks quite alarming, but it also reveals potential points of hope.

📊Current technical picture:

· Price and trend: Ether is trading around $3,202, showing a decline of more than 5% in the last 24 hours. The price has confidently broken the 24-hour low and is in a clear downtrend.
· Key levels: Resistance is now at the previous low marks (~$3,565), while support is at the lower Bollinger Band level ($3,085). Notably, the price is already at the very lower boundary of this indicator, which often signals oversold conditions.
· Indicators in the bearish zone:
· RSI: All lines (6, 12, 24) are in the oversold zone ( below 40), and RSI(6) is close to 26. This is a strong bearish signal, but also an indication that selling may have gone too far.
· MACD: Deep in negative territory, the histogram is negative. This confirms the strength of the downward momentum.
· KDJ: All lines are below 50, and the J line is at 25, which also indicates oversold conditions without clear signs of reversal.

The main "spoiler" on the horizon: GAP on CME

In addition to the technical factors on the spot market, an important fundamental magnet hangs over the futures market. On the CME Ethereum Futures chart, there remains an unclosed price gap around $2800. Historically, futures gaps have a tendency to "fill" over time. This creates a powerful psychological level that can attract the price, posing risks for further decline.

Are there prospects for growth?

Right now, the conditions for growth look weak. However, several scenarios may give hope to the bulls:

1. A rebound from oversold conditions ( is the most likely short-term scenario ). With this number of oversold signals ( on the RSI, at the lower Bollinger Band ) we could see a technical rebound to $3,400 - $3,500. However, without a significant increase in volumes and a positive backdrop, this will only be a correction within the downtrend.
2. Filling the CME gap followed by a reversal. The "worst", but potentially market-clearing scenario is a drop to $2800 to close the gap. A strong bounce from this level with high volume could become a strong signal to start the recovery.
3. Breakthrough of key resistance. For a trend change, a confident price consolidation above $3,600 is necessary, ideally above the moving averages, which are currently acting as dynamic resistance.

Result:

In the short term, ETH is under pressure. The risk of further decline to $3,085 ( Bollinger Bands ), and potentially to $2,800 ( CME gap ), remains high.

Prospects for confident growth will only emerge after strong bullish signals are formed: divergences on the RSI or MACD, breakouts and hold above key resistance levels. For now, any recovery looks more like an opportunity for selling than for buying.

⚠️IMPORTANT: This is not investment advice! Always conduct your own research (DYOR) and manage your risks.

#ETH #Ethereum