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14 hour ago
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BEARISH 📉 : Ethereum price declines below $2,000 signaling potential further losses

Ethereum Price Analysis

  • Ethereum's price declined below $2,000 after failing to sustain above $2,050.
  • The price is currently trading under the 100-hourly Simple Moving Average.
  • A break occurred below a bullish trend line with support at $2,035 on the ETH/USD hourly chart (via Kraken).
  • ETH may face another decline if it remains below the $2,000 resistance zone.

Current Status

  • Ethereum fell below the 50% Fibonacci retracement of its upward move from $1,895 to $2,106.
  • Price is now below $1,980. Immediate resistance is around $1,980, with key resistance at $2,000 and $2,025.

Ethereum Price

Potential Movements

  • If Ethereum exceeds $2,025, it may rise towards $2,045 and potentially $2,120 or $2,150.
  • If unable to clear $2,000, a decline could occur with initial support at $1,945 and major support at $1,930.
  • Further declines might push the price to $1,880 or even $1,820, with main support at $1,780.

Technical Indicators

  • Hourly MACD is gaining momentum in the bearish zone.
  • Hourly RSI for ETH/USD is below the 50 level.