Ethereum Fails to Break $2,160 Resistance Amid Strong Selling Pressure
Ethereum (ETH) has faced resistance at the $2,160 level, preventing a breakout and indicating bearish control in the market. Recent selling pressure has raised concerns among bullish traders as momentum fades.
Current Market Overview
- ETH's recovery attempt was rejected at $2,160.
- Weak trading volume suggests sellers regained control easily.
- The Relative Strength Index (RSI) indicates declining buying pressure.
- The Moving Average Convergence Divergence (MACD) shows increasing bearish momentum.
Looking forward, Ethereum may retest support levels:
- First support is around $1,523; holding above could lead to a rebound.
- If it breaks below $1,523, the next support is at $902, which poses a psychological barrier for traders.
