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ETHUSD (D) may experience a decline to the $26K-$26.5K

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Ethereum (COINBASE:ETHUSD)  
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COINBASE:ETHUSD   Ethereum
Trend Analysis Technical Indicators Chart Patterns ETHUSD ethshort ethusdanalysis ethreum ethsignals vnsmartmoney tradingsignals tradingrange rsi_divergence
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trendanalysis indicator chartpattern ethusd ethshort ethusdanalysis ethreum ethsignals vnsmartmoney tradingsignals tradingrange rsi_divergence
ETHUSD ETHUSD may experience a decline to the $26K-$26.5K
ETHUSD (D) may experience a decline to the price range of $26K-$26.5K. This assessment is grounded in the following observations:

  1. RSI divergence at both the peak and trough of the recent uptrend indicates a weakening bullish pressure relative to selling pressure.
  2. The non-breaking of the MA50 support on the initial attempt is a typical response but also suggests a reevaluation of the prevailing trend.
  3. The abrupt and notable decline, swiftly moving from the $26K price range to $22.4K, raises substantial concerns compared to the preceding ascent.
  4. Despite a robust price increase, recent volume has not demonstrated remarkable strength, highlighting the presence of numerous unsustainable FOMO factors.
  5. RSI resides in the overbought zone, signaling the potential for a price correction at this stage (yet to be confirmed as a trend reversal).
  6. The nearest price support zone lies within the range of $26K-$26.5K, presenting an opportune level for this corrective phase.

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ETDUSD (W) is poised to approach the $30K in the near future
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