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Ethereum is struggling to start a recovery wave from $1,550. The price is trading below $1,585 and the 100-hourly Simple Moving Average. There are two bearish trend ETH’s daily structure remains bearish overall, with prices still trading well below the 200-day moving average, which is located around the $2,800 mark. However Momentum indicators remain bearish, signaling that ETH may need stronger conviction or a catalyst before any real trend reversal takes shape. The Relative Strength Veteran trader Peter Brandt is raising concerns about Ethereum (ETH), saying there’s no buy signal right now. He also pointed out a bearish rising wedge pattern Ethereum showed some signs of recouping losses on Sunday after invalidating a bearish pennant on the hourly chart. Ethereum (ETH), the world’s second-largest cryptocurrency, is once again under intense market scrutiny after slipping below multiple key support zones. A sharp drop beneath $1,650 and With technical indicators flashing red, a bearish market structure in place, and external pressures weighing heavily, the chances of ETH falling below $1,550 are high. There are two bearish trend lines forming with resistance near $1,565 and $1,590 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a recovery wave if the bulls

Ethereum Negates Bearish Pattern, Eyes Return to $1550

Is Ethereum (ETH) poised for a rebound? After intense market scrutiny and slipping below key support zones, ETH is showing signs of fighting back. The big question: Can Ethereum negate the bearish pattern and reclaim $1550?

Ethereum is struggling to start a recovery wave from $1,550. The price is trading below $1,585 and the 100-hourly Simple Moving Average. There are two bearish trend lines forming with resistance near $1,565 and $1,590 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a recovery wave if the bulls... but the path forward is fraught with challenges.

Technical Analysis: Bearish Signals Persist

ETH’s daily structure remains bearish overall, with prices still trading well below the 200-day moving average, which is located around the $2,800 mark. However, Ethereum showed some signs of recouping losses on Sunday after invalidating a bearish pennant on the hourly chart. This positive sign provides a glimmer of hope amid the prevailing negativity.

With technical indicators flashing red and a bearish market structure in place, previously the chances of ETH falling below $1,550 were high. But has this changed? The short-term invalidation of the pennant suggests a possible shift.

Can Ethereum Overcome the Challenges?

Momentum indicators remain bearish, signaling that ETH may need stronger conviction or a catalyst before any real trend reversal takes shape. The Relative Strength Index (RSI) needs to show significant improvement for a sustained rally.

Veteran trader Peter Brandt is raising concerns about Ethereum (ETH), saying there’s no buy signal right now. He also pointed out a bearish rising wedge pattern. This adds another layer of complexity to the potential for a near-term recovery. There are two bearish trend lines...

The Road to $1550 and Beyond

While the overall outlook remains cautious, the recent invalidation of the bearish pennant offers a potential opportunity for Ethereum. Overcoming the $1565 and $1590 resistance levels will be crucial. Successfully breaking through these barriers could pave the way for a return to $1550 and potentially higher. Keep a close eye on ETH as it navigates this critical juncture.

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