Technical analysis by Sahrin about Symbol ETH: Sell recommendation (3/5/2025)

The bands are widening, indicating increased volatility.Price has been hugging the lower Bollinger Band, suggesting a strong downtrend.Increased Volume on Sell-Off: The recent strong bearish move was accompanied by high volume, confirming strong selling pressure.Possible Capitulation?: If volume spikes further while price stabilizes, it could indicate potential short-term bottoming.Support: Around $2,000 (psychological level).Resistance: Near $2,500 - $2,600 (recent breakdown level & middle Bollinger Band).Bearish Bias: Price action and indicators suggest further downside unless buyers step in strongly.Short-term Relief Bounce Possible: If ETH holds the $2,000 level, a temporary rebound could occur.Bearish Scenario: If ETH closes below $2,000, expect further downside toward $1,800 or lower.Bullish Recovery: A strong close above $2,500 would indicate potential trend reversal.Wait for Confirmation: Watch for a bullish reversal pattern or volume divergence before entering long positions.