$ETH ETH/USDT Analysis - 1D Timeframe

Current price: $2,118.57 (-3.05%)

ETH continues to face selling pressure, trading below all major EMAs on the daily chart. The coin has been respecting a clear downtrend structure with lower highs and lower lows over the past several weeks.

Key Technicals:

- Price is sitting well below EMA5 (2175), EMA10 (2221), and EMA30 (2262)

- RSI6 at 18.31 extremely oversold, indicating selling momentum is getting exhausted

- RSI12 & RSI24 also trending lower but showing early signs of weakness in bearish momentum

The recent decline appears driven by overall market correction, BTC dominance, and cautious sentiment in the broader crypto space.

Market Verdict: We are in a downtrend, not ranging. While the structure remains bearish, the deeply oversold conditions suggest a potential relief bounce or consolidation could be near.

My View: This dip is creating an interesting zone for spot accumulation for those with a longer-term horizon. Short-term traders should wait for confirmation above $2,260 before getting aggressive.

Not financial advice. DYOR & manage risk.

What’s your outlook on ETH at these levels?

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