8 hours ago
1
Key Takeaways
- Downtrend still intact, but upper channel resistance being tested.
- February lows near $1,500 likely marked the local bottom.
- Sellers exhausted after panic bottom, accumulation building.
- Key resistance: 0.382 Fibonacci at $2,744 and 200MA at $2,885.
- Key support: 100MA at $2,327 and 0.236 Fibonacci at $2,267 below.
- Sentiment cautiously improving, macro uncertainty remains.
A Long Downtrend Still Fighting for Control
On the daily chart, Ethereum has been trading inside a well-defined descending channel, stretching from the August highs around $5,000 all the way down to the February lows around $1,495 and is now making its most serious attempt yet to break above the upper boundary.
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