Price Movement
Ethereum (ETH) has recently dipped below the 100-day Moving Average (MA) in both the 1-hour and 4-hour timeframes. This suggests a potential downward trend.
Indicators
- Support and Resistance: Support is at $3,067, while resistance is at $3,681 and $3,591.
- 4-Hour RSI: The RSI signal line is below 50, indicating a downward trend.
- 4-Hour MACD: The MACD histogram has dropped below zero, suggesting bearish momentum.
Possible Outcomes
If ETH breaks below $3,067, it could continue downward. However, if it holds above this level, it may reverse and start an upward trend.
Potential Bullish Scenario
If ETH breaks above $3,681 and $3,591, it could continue its bullish run.
