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The market leader is facing some heat today. Ethereum ($ETH ) has been under pressure, trending downwards as it searches for a solid bottom.
📊 The Snapshot:
Current Price: $2,279.48 🔴
24h Change: -2.12%
24h High: $2,349.12
24h Low: $2,264.77
🔍 What’s the Vibe?
On the hourly chart, $ETH is currently in a "descending" phase. It recently hit a local low of $2,264, where it found a bit of buying interest to prevent a further slide. However, the price is still trading below the major moving averages, suggesting that the bears are currently in control of the short-term momentum.
We need to see $ETH reclaim the $2,300 level to turn the sentiment back to neutral/bullish. For now, it’s all about watching that support floor hold steady.#GateSquareMayTradingShare