With ETH being below the crucial $3,296 support level, the market is suddenly more pessimistic. With this action, ETH has completely counterbalanced the inefficiencies in the market caused by its price surge in response to the SEC's reversal of spot ETH ETFs.<\/p>\n\n\n\n
According to the RSI value of 30.61, Ethereum enters a solid bearish trend condition. However, the price is already in the oversold zone so there is a possibility of a potential pullback near the immediate resistance at $3,296.<\/p>\n\n\n\n
ETH\/USD is now testing the crucial support at $3,024 which appears as a deciding level for the upcoming weekly movement. The bearish momentum will slow down if this level is bounced off. If it declines, though, ETH might look for support at the $2,700 price mark.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Enters Downtrend As The Price Sinks Below $60K, ETH Tests Critical Support At $3,024 Following A Bearish Triangle Breakout","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-enters-downtrend-as-the-price-sinks-below-60k-eth-tests-critical-support-at-3024-following-a-bearish-triangle-breakout","to_ping":"","pinged":"","post_modified":"2024-07-08 19:40:12","post_modified_gmt":"2024-07-08 09:40:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17731","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"};