ETHUSDT: Consolidation of support for the bears
Hello dear traders!
Currently, ETHUSDT remains constrained below the old support level at around 3272 USD, since the market witnessed a previous price slide. This resistance level plays an important role in controlling the price; If the price breaks above this level, we will likely see a significant rally, while prices remaining below this level could continue to decline.
On the daily chart, ETHUSDT is attempting to recover from a sharp decline, currently trading in a range that could be considered a market correction. According to technical analysis, as long as the price remains below the two EMA lines, the possibility of further price decline remains. This is an important sign for those closely monitoring market developments, providing insight into potential trends.
Currently, ETHUSDT remains constrained below the old support level at around 3272 USD, since the market witnessed a previous price slide. This resistance level plays an important role in controlling the price; If the price breaks above this level, we will likely see a significant rally, while prices remaining below this level could continue to decline.
On the daily chart, ETHUSDT is attempting to recover from a sharp decline, currently trading in a range that could be considered a market correction. According to technical analysis, as long as the price remains below the two EMA lines, the possibility of further price decline remains. This is an important sign for those closely monitoring market developments, providing insight into potential trends.
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