Ethereum Technical Outlook 🧠
ETH is currently in a downtrend on both the daily and 4-hour timeframes 📉.
The $2100–$2150 range, which previously acted as a major support level, has now turned into a key resistance zone 🔄.
Price is moving within an ascending channel 📈 and approaching a supply zone located between $1790–$1820 🟥.
For a confirmed trend reversal, Ethereum must break above the red descending trendline 🔻 and flip the key resistance zone (marked on the chart) into support ✅.
Until then, bearish momentum remains dominant.
ETH is currently in a downtrend on both the daily and 4-hour timeframes 📉.
The $2100–$2150 range, which previously acted as a major support level, has now turned into a key resistance zone 🔄.
Price is moving within an ascending channel 📈 and approaching a supply zone located between $1790–$1820 🟥.
For a confirmed trend reversal, Ethereum must break above the red descending trendline 🔻 and flip the key resistance zone (marked on the chart) into support ✅.
Until then, bearish momentum remains dominant.
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