$ETH Ethereum is currently experiencing a strong short-term bearish trend.
Here is a breakdown of the technical indicators shown:
1. Price Action and Candlesticks
• Current Price: $2,089.64, down roughly 8.17% over the last 24 hours.
• Trend: The chart shows a series of "lower highs" and "lower lows" on the 15-minute timeframe, which is the classic definition of a downtrend.
• Support/Resistance: The price recently bounced off a local low of $2,075.19. If it breaks below this level, the downward momentum could accelerate.
2. Moving Averages (MA)
• The price is currently trading below