Ethereum (ETHUSD) Price Analysis
Expected Scenario
Ethereum (ETHUSD) is currently fluctuating around the EMA50, with the stochastic indicator losing its positive momentum and beginning to show negative overlap. This suggests a potential motivation for the price to resume its anticipated bearish trend on an intraday basis, targeting the initial level at $3360.31. Further downside movement could extend towards $3132.80 upon a break below the initial target.
It is crucial for Ethereum to hold below $3641.82 to sustain the expected decline. However, breaching this level would indicate a potential return to the main bullish trend, with targets set at $3825.00 and $4000.00.
Expected Trading Range
For today, the expected trading range for Ethereum (ETHUSD) is between the $3400.00 support and the $3660.00 resistance.
Trend Forecast: Overall Bearish
