🚨 Market Update: ETHFI/USDT 🪙

🔻 Current Price: $1.217 (Down 8.91%)

📉 Trend: Bearish, with price trading below major moving averages

🔍 Support: $1.188 | Resistance: $1.340

📊 Volume: Declining, signaling reduced momentum

1. Price: The current price is 1.217 USDT, with a significant decline of 8.91% on the daily chart.

2. Moving Averages:

• The 7-day, 25-day, and 99-day moving averages are shown. The price appears to be trading below these averages, indicating a bearish trend.

3. Volume: There is a notable decline in volume compared to previous peaks, suggesting reduced market activity and potential selling pressure.

4. Price Trend: The recent decline from a high of 1.870 USDT to the current level points to continued bearish sentiment.

Technical Analysis Summary:

• Bearish Indicators: The price trading below key moving averages and a significant drop in volume suggests a downward trend.

• Support and Resistance: Key support level appears to be around 1.188 USDT, while resistance is at 1.340 USDT.

• Volume Analysis: A drop in volume could indicate weakening momentum. However, if the price approaches a support level with increased volume, it might signal a reversal.

Technical outlook suggests caution as bearish pressure dominates. Watch for key levels and volume shifts for potential reversal opportunities!

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