Ethereum (ETH/USDT) slipped to $2,370.65, breaking the prior support level of $2,405.98. The decline represents a move of 1.4 times the 14‑day average true range (ATR), which is below the 2.0‑ATR threshold that would have signaled a stronger breakdown. Over the past 24 hours the price has fallen 5.33% from the previous daily close of $2,421.6. Momentum indicators show the 14‑day RSI at 37.7, suggesting weakening buying pressure, while the ADX of 29.4 points indicates a moderate trend strength. The price remains under the 50‑day EMA of $2,498.08 but above the 200‑day EMA of $2,245.4, keeping the asset in a bullish regime according to the model. Trading volume reached $1,085.4 million in the last 24 hours. In the broader crypto market the Fear & Greed index sits at 53 (Neutral) and Bitcoin dominance is 59.5%.
Ethereum breaks key support, price down 1.4 ATR
Ethereum slipped below the $2,405.98 support level, moving 1.4 times its 14‑day ATR amid a neutral market backdrop.
Neuralis Cap article
Data: Neuralis Cap (Binance daily candles, Alternative.me Fear & Greed, CoinGecko BTC dominance)
Market impact
Should the price continue below the broken support, further pressure could test the 50‑day EMA at $2,498.08, while a rebound toward the previous resistance of $2,553.32 might restore short‑term stability. The neutral Fear & Greed reading and Bitcoin’s 59.5% dominance suggest that broader market sentiment is not strongly biased, so any additional move may depend on external catalysts rather than internal technical momentum.
Neuralis Cap analysis for informational purposes only. It does not constitute investment advice.
Article written by Neuralis Cap with AI assistance solely from the data and primary sources listed. It does not constitute investment advice.
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