Ethereum
ETH Price Stalls at $3,000 as Bloomberg Announces Launch Date for New Ethereum ETFs
Ethereum (ETH/USD) Price Prediction | TradingView
The Chande Momentum Oscillator (ChandeMO) is at -59.63, highlighting the bearish momentum currently affecting Ethereum. This weak momentum suggests that buying interest is weak and short-term buyers may be hesitant to enter large long positions, especially given the ongoing uncertainty surrounding the Ethereum ETF.
Support levels to watch include the psychological level of $2,900 and lower at $2,800. These levels are critical as they could act as a floor if the downtrend continues.
On the upside, the key resistance level lies at $3,100. A break and hold above this level could potentially trigger larger gains and signal a reversal of the current downtrend.
In summary, Ethereum is under significant selling pressure and the weak momentum suggests caution for buyers in the near term. It will be essential to monitor the support at $2,900 and the resistance at $3,100 to anticipate the next significant move. A break above $3,100 could lead to a more substantial recovery, while failure to hold $2,900 could lead to further declines.