NewsBTC
19 May 2025
5 0

Ethereum Price Corrects Below $2,500 and Faces Resistance Challenges

Ethereum is experiencing a price correction, currently testing the $2,320 zone with potential declines toward $2,220.

  • ETH corrected from $2,580 and tested $2,320.
  • Price is below $2,500 and the 100-hourly Simple Moving Average.
  • A bearish trend line shows resistance at $2,540.
  • Clearing $2,550 could strengthen the pair.

Current Price Movement

Ethereum struggled to surpass the $2,520 resistance, trading below $2,440. The bears pushed the price below the 50% Fib retracement level of the move from $2,308 to $2,509.

Bulls have been active around the $2,400 zone after a dip below $2,440. Currently, ETH trades under $2,450 and the 100-hourly SMA, facing resistance at $2,540.

Potential resistance levels are $2,460 and $2,500, with major resistance at $2,550. A break above this level could lead to an increase toward $2,580, and possibly higher to $2,700 or $2,780.

Ethereum Price

Possible Downward Trend

If ETH cannot clear $2,500, a decline may occur. Key support levels are:

  • $2,400
  • $2,350
  • $2,320
  • $2,220
  • $2,120

Technical indicators show a bearish MACD momentum and an RSI below 50.