NewsBTC
20 June 2025
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Ethereum Price Declines Below $2,600 Amidst Consolidation Phase

Ethereum price is currently below $2,600 and consolidating losses. A potential recovery may occur above $2,550.

  • ETH declined below $2,580, trading under $2,550 and the 100-hourly SMA.
  • A rising channel has formed with support at $2,490 on the hourly chart.
  • A move above $2,620 could initiate an increase towards $2,660 or higher.

Price Movements

Ethereum's price fell below key levels, including $2,540 and $2,500, testing $2,450 before entering a consolidation phase. It briefly moved above $2,520 and the 23.6% Fib retracement level of the downward movement from $2,680 to $2,456.

Currently, ETH trades below $2,540 and faces resistance around $2,540 and $2,565. The major resistance level is near $2,620.

Ethereum Price

A break above $2,620 may lead to gains towards $2,720 or even $2,800.

Potential Downside Risks

If Ethereum cannot surpass $2,565, it may decline further. Initial support is at $2,490, with major support at $2,455. A drop below this level could push ETH towards $2,360 and $2,320, with the next significant support at $2,250.

Technical indicators show:

  • MACD is losing momentum in the bearish zone.
  • RSI is above the 50 mark.
  • Major Support Level: $2,455
  • Major Resistance Level: $2,565