ETH Technical Outlook: Ethereum Tests Major Support as Bears Maintain Control

ETH continues to slide lower and is now testing the $2,750–$2,800 support zone, marking one of the most important levels on the chart. The downtrend has strengthened as ETH remains below all major EMAs — 20 EMA ($3,219), 50 EMA ($3,581), 100 EMA ($3,711), and 200 EMA ($3,537) — confirming a clear bearish structure.

Recent price action shows consistent lower highs and lower lows, with no strong bullish reaction from support. A daily close below $2,780 would likely open the door for further downside toward the Fib 0 level at $2,623, and a deeper extension could reach $2,400, where a stronger demand zone sits.

For any meaningful recovery, ETH must first reclaim the 20 EMA at $3,219, followed by a break above $3,514 (0.382 Fib). A shift in trend strength would require ETH to close above $3,711 (100 EMA). Only a sustained move above $3,790 (0.5 Fib) would indicate that buyers are returning aggressively.

The RSI at 28.5 is deeply oversold, suggesting that a short-term relief bounce is possible — but overall momentum remains firmly bearish unless ETH reclaims multiple resistance zones.

📊 Key Levels

Resistance:
$3,219 → $3,514 → $3,711 → $3,790

Support:
$2,780 → $2,623 → $2,400

RSI:
28.5 — Deep oversold conditions

📌 Summary

ETH is hovering above a major support zone after a sustained downtrend. While oversold indicators suggest a possible bounce, the broader trend remains bearish unless Ethereum regains strength above $3,200–$3,700.

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