1 month ago
16
Key Takeaways
- ETH trades at $1,750, down 1.10% intraday after tagging a $1,783 high.
- 50 SMA at $1,787, horizontal resistance, and 0.236 Fib near $1,787 overlap.
- Price sits below the 50, 100 ($2,024), and 200 SMAs ($2,245).
Why the $1,787 Rejection Carries Weight
Ethereum’s recovery from the $1,505 June low stalled at the exact price zone where three independent technical inputs converge. The 50-day SMA sits at $1,787, the horizontal supply shelf sourced from prior June consolidation aligns within the same handle, and the 0.236 Fibonacci retracement of the $2,465 to $1,505 decline plots at approximately $1,787. Confluence of this density typically produces the market’s first meaningful reaction on a counter-trend rally, and the current daily candle is testing whether that reaction holds.
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