Ethereum Price Declines Below $2,600 with Support at $2,480
Ethereum is experiencing a decline, trading below the $2,620 level and facing potential further losses.
- ETH price has dropped below $2,600 and $2,550.
- Current trading is below $2,540 and the 100-hourly Simple Moving Average.
- A rising channel shows support at $2,480 on the hourly chart of ETH/USD.
- Resistance levels are at $2,540 and $2,565; a break above these could allow for a rise towards $2,680.
Price Movement Overview
ETH tested the $2,450 zone and is now consolidating. It briefly moved above $2,500 but remains under pressure.
Key resistance points are noted at:
- $2,540
- $2,565
- $2,625
If ETH fails to surpass $2,540, it may decline further. Key support levels include:
- $2,480
- $2,450
- $2,320
- $2,240
- $2,150
Technical indicators show:
- MACD is losing momentum in the bearish zone.
- RSI is below 50.