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Ethereum Price Breaks Key Support at $2,400 Amid Ongoing Bearish Trends

Guavy AI Editorial Team
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ETH
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Ethereum (ETHUSD) continued its decline in recent intraday trading, breaking below the key support level at $2,400.

This comes amid a short-term bearish corrective wave and negative pressure from trading below EMA50, which limits the chances of a full recovery in the near term.

Despite positive signals from relative strength indicators after reaching deeply oversold levels, these signals have yet to translate into a meaningful price recovery, highlighting the sellers' firm control and warning of further downside.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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