ETHFI is facing intense selling pressure after breaking a critical support level. Traders closely watch key support zones to determine the asset's short-term trajectory.
Market Overview and Price Action
ETHFI has remained in a bearish trend, failing to reclaim lost ground. Recent attempts to maintain the price above $1.20 have been unsuccessful, causing further price decline. The breakdown below this level reinforces a bearish perspective among traders targeting the support area at $1.00.
Key Support and Resistance Levels
ETHFI's failure to hold at $1.20 has left it vulnerable. Major resistance levels are at $1.70, $2.30, and $3.30. Immediate support is positioned at $1.00, with additional levels at $0.85 and $0.70. A break below $1.00 could accelerate the price decline.
Technical Indicators and Market Sentiments
The Stochastic RSI shows overbought levels, with the fast line at 88.14, suggesting a potential pullback. The Bollinger Band Percent histogram is negative at -0.032, indicating weakening bearish momentum. At the time of writing, ETHFI is at $1.08.
ETHFI continues to face bearish pressure, with key support and resistance levels crucial for the next price move. Traders await trend confirmation through market indicator analysis.
