**$ETH Analysis: Short-Term Rebound in a Longer Downtrend** 📊



Ethereum is currently trading at **$1,741** (+2.03%) on the Gate.io spot market.

**Key Observations:**

**On the 4H Chart:**
- Strong rebound from recent lows (~$1,604)
- Price has broken above the MA10 and is testing the MA30
- Green candles showing buyer control in the short term
- 24h range: $1,704 – $1,749

**On the Daily Chart:**
- Still within a broader downtrend from the May highs (~$2,424)
- Price has found support near $1,505 and is attempting recovery
- Volume remains moderate

**Technical Levels to Watch:**
- Resistance: $1,800 – $1,850
- Support: $1,700 – $1,650
- Moving Averages: Price currently sitting between short-term MAs and the longer MA30

The short-term momentum is positive, but ETH needs to break and hold above $1,800 convincingly to challenge the larger downtrend.

Market structure suggests caution — we're seeing relief buying but the macro picture remains challenging.

What’s your take on ETH here? Are you accumulating on dips or waiting for a clearer breakout? 👇

DYOR!

#Ethereum #ETH #Crypto #TechnicalAnalysis
#MyGateTradeStory
ETH-0.51%
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