The RSI value dropping below 50 (currently at 44.11) indicates a bearish momentum. However, since the price encounters support near $2.3K, we might see ETH pullback near the $2.7K zone again before joining the overall downtrend.<\/p>\n\n\n\n
Ethereum must break above the weekly resistance at $2,815 to establish bullish momentum and transform it into an uptrend. Alternatively, a bearish breakout of the $2,300 level might push the price below $2,110, initiating a long-term bearish trend.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Momentum Remains Neutral Near $62K, ETH Eyes A Further Price Correction Following The 50-EMA Break","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-momentum-remains-neutral-near-62k-eth-eyes-a-further-price-correction-following-the-50-ema-break","to_ping":"","pinged":"","post_modified":"2024-10-07 03:57:17","post_modified_gmt":"2024-10-06 16:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19060","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Ethereum rejected a move above the $2,700 level and eventually broke the dynamic support of the 50 EMA near $2,559 before making a strong bearish move around the current support at $2,300.<\/p>\n\n\n\n
The RSI value dropping below 50 (currently at 44.11) indicates a bearish momentum. However, since the price encounters support near $2.3K, we might see ETH pullback near the $2.7K zone again before joining the overall downtrend.<\/p>\n\n\n\n
Ethereum must break above the weekly resistance at $2,815 to establish bullish momentum and transform it into an uptrend. Alternatively, a bearish breakout of the $2,300 level might push the price below $2,110, initiating a long-term bearish trend.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Momentum Remains Neutral Near $62K, ETH Eyes A Further Price Correction Following The 50-EMA Break","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-momentum-remains-neutral-near-62k-eth-eyes-a-further-price-correction-following-the-50-ema-break","to_ping":"","pinged":"","post_modified":"2024-10-07 03:57:17","post_modified_gmt":"2024-10-06 16:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19060","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};