Ethereum Tumbles Below $1,650 as Crypto Market Sentiment Remains Weak

Ethereum (ETH) continues to trade in a broader downtrend after falling from above $2,000 earlier this month. According to recent market data, ETH is currently testing important support zones near $1,600.

The overall crypto market sentiment remains weak, with Ethereum's current price hovering around $1,630. The technical outlook suggests a bearish to neutral trend, with major support at $1,600 and strong support at $1,500.

However, if ETH manages to break the resistance level of $1,700, it could potentially move toward $1,850-$2,000.

The Relative Strength Index (RSI) is near neutral territory, indicating that selling pressure may be slowing down. The trading scenarios suggest a bullish case if ETH holds above $1,600 and breaks the resistance level of $1,700.