Ethereum at Crossroads: Momentum Weakens as Key Price Levels Dictate Next Move
Ethereum (ETH) has shown resilience, consolidating above $1,780 following a recent surge of over 10%. However, technical analysis now indicates the bullish trend is weakening. The Average Directional Index (ADX) sharply dropped from 39 to 24.91, signaling fading trend strength, while the Directional Movement Index (DMI) shows decreasing buying pressure (+DI) and rising selling momentum (-DI). The price faces major resistance at $1,850 and $1,828; breaking above these could trigger rallies toward $1,920 and potentially $2,320. Conversely, failure to breach $1,828 or a drop below key supports at $1,780, $1,749, or $1,689 may prompt a larger correction. Hourly MACD and RSI had suggested bullish momentum earlier, but latest indicators call for caution. Traders should closely monitor price action around highlighted levels, set stop-losses, and adjust risk as sentiment could shift rapidly. Overall, Ethereum stands at a pivotal juncture, with short-term direction hinging on breaking key technical barriers and shifts in market sentiment.
Neutral
The news highlights that while Ethereum recently posted strong gains and maintained key support levels, technical momentum indicators (ADX, DMI, MACD, RSI) are now flagging a potential slowdown in bullish sentiment. The situation is balanced: a successful break above major resistance could renew upward momentum, but failure to do so or a fall below support could trigger significant downside. With conflicting signals and price perched at a critical juncture, the outlook remains neutral for now—traders should be alert to price action and prepare for possible volatility as the market awaits confirmation of the next trend direction.