Welcome to Extreme Investor Network, where we provide you with unique insights and analysis on the Stock Market, trading, and all things related to Wall Street. Today, we will be discussing the latest technical price analysis for Ethereum.
The Advance-Decline Ratio (ADR) for Ethereum is currently stable at 3.50, indicating that bullish momentum may be weakening as Ethereum approaches key resistance levels. This aligns with recent sell-offs from whales, suggesting that Ethereum may struggle to break higher in the short term.
Looking ahead, Ethereum faces key resistance at $2,755 and support at $2,529. In order to continue its bullish ascent, Ethereum must decisively break the $2,755 resistance level. A sustained close above this point could pave the way for a move towards $2,800, and potentially even higher to $3,000 if the rally intensifies. However, failure to hold the $2,529 support level could signal a deeper correction, pulling Ethereum back towards the $2,303.70 mark.
In summary, while Ethereum has shown resilience in recent weeks, it faces challenges ahead. Whale profit-taking and softening market breadth indicate that the rally may stall unless buyers regain control. A breakout above $2,755 would reignite bullish sentiment, but failing to maintain momentum risks triggering a larger correction.
Stay tuned to Extreme Investor Network for more expert analysis and insights on the Stock Market and trading. Make sure to bookmark our site for exclusive content that will help you stay ahead in the world of investing.