Ethereum: Below Support Risks S/R Flip
CrypNuevo flags Ethereum trading beneath prior strong support on the 4h chart, where consolidation would confirm an S/R flip and open a fresh leg lower.
SourceAnalysis
Ethereum sits beneath a prior strong support zone, according to @CrypNuevo, with any sustained consolidation likely to mark acceptance and trigger the next downside leg.
Price at $2233.21 remains locked in the bearish structure defined by the EMA50 at $2340.61 and EMA200 at $2457.6, while the MACD death cross at -28.79 keeps momentum negative; the RSI at 33.27 offers no oversold relief yet. With Ethereum inside the Bollinger Bands and the lower band at $2217.59 acting as immediate floor, a clean break lower would target that level before any retest of the EMA50 resistance becomes plausible.
CrypNuevo
@CrypNuevoAn unbiased technical analyst specializing in liquidity dynamics and market psychology, transcending bull-bear narratives.