🚨 $ETH Update: Key Levels & Market Outlook 🔥
💹 Current Price: $2,923 (-2.73% 24H)
ETH is down slightly more than BTC today, but weekly trends favor ETH over BTC.
📊 Technical Snapshot:
• ETH/BTC rate still falling, but decline slowing → possible bottom signal
• RSI: 1H: 39 | 4H: 45 | 1D: 44 (slightly stronger than BTC)
• MACD: Short-term negative, Daily shows +3.4 divergence → downward momentum weakening
• Bollinger Bands: Price near middle band
1H lower band support: $2,899
Daily middle band resistance: $2,978 → break could target $3,000
📈 Futures Insights:
• Open Interest: $38B (-1.14% 24H)
• Funding Rate: ~0 (neutral vs BTC)
• Liquidations:
$8.87B of longs below $2,899 → $2,826
Sparse short liquidations above $2,944
💡 Market Structure:
• Dense longs below, sparse shorts above → bullish bias
• Most longs are underwater → can be liquidated if $2,900 breaks
⚠️ Key Levels:
• Critical support: $2,900 (psychological mark)
• Next major support: $2,800 (heavy options expiry)
• Max pain range: $2,950 – $3,200 → potential for selling call options to earn time value
✅ Takeaway for Traders:
Holding $2,900 is key. Break below → $2,800 test likely.
Break above $2,978 → $3,000 challenge.
