$ETH Bearish pressure due to selling actions by short-term holders could drag ETH down again to the range of US$2,158, and if a deeper decline occurs, the price could fall below US$2,000 to retest support at US$1,917.
⛔ETH Price Analysis.
This is happening because the Money Flow Index (MFI) is also in the overbought zone, exceeding the threshold of 80.0. Historically, buying pressure that surpasses the neutral point tends to push prices higher, but usually ends with a sharp decline after ETH enters an oversold condition. This situation is likely to occur with ETH next.
⛔ETH MFI
If the overall market conditions improve and the price of ETH successfully breaks through US$2,348 to become support, then the outlook will change completely. This scenario opens the opportunity for ETH to reach US$2,500 and resistance at US$2,614, thereby completely negating the previous bearish prediction.