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Tag: following multiple unsuccessful

Crypto Market Prediction: Ethereum (ETH) Lost the Price Battle, XRP Time-Traveled to 2024, Is Dogecoin (DOGE) Aiming at $0.20 Recovery?

The post Crypto Market Prediction: Ethereum at about $3,600 has now turned into resistance. Previously, this level served as a basis for a recovery. The daily chart’s declining structure, which is indicated by a series of lower highs and waning buying interest, validates the overall bearish sentiment shift. Red candle volume spikes raise additional concerns because they imply that sellers are still in charge. On a market that is not exhibiting any indications of significant accumulation, the RSI hovering around 31 suggests that ETH is approaching oversold territory. Even though there may be a brief respite, the current downward trend is unlikely to be reversed unless general market conditions improve. Technically speaking, $3,000 is the next significant support, and $2,800 is a more psychological barrier. If Ethereum is unable to maintain those levels, it is more likely that it will drop to $2,500, which would eliminate most of the gains from the midyear rally. In summary, the price movement.