Technical analysis by Toro_Chill about Symbol ETH: Buy recommendation (7/26/2024)

ETHUSD is currently encountering significant resistance around the $3,260 level, marked by a descending trendline. The strong support level is at $3,111, where the price has previously bounced back. Recent candlesticks show short-term recovery but with long upper wicks, indicating rejection at higher price levels. The future trend of ETHUSD may continue to decline if the price fails to break through the current resistance at $3,260.