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Ethereum Price Declines Below $4,550 Amid Bearish Trend
Ethereum Price Analysis
- Ethereum's price declined below $4,550 and is currently consolidating.
- ETH is trading below the $4,450 mark and the 100-hourly Simple Moving Average.
- A bearish trend line shows resistance at $4,450 on the hourly chart of ETH/USD.
- For a potential increase, Ethereum must clear the $4,400 and $4,450 resistance levels.
Price Dynamics
- ETH failed to maintain above the $4,650 level and dropped below $4,600 and $4,550 supports.
- The current low is at $4,264, with the price consolidating losses below the 23.6% Fib retracement from $4,637 to $4,264.
- Resistance levels are seen at $4,350 and then $4,400, with major resistance at $4,450.

If Ethereum breaks above $4,450, it could approach $4,500 or even $4,620.
Potential Decline
- If unable to surpass $4,350 resistance, ETH may decline again.
- Initial support lies around $4,250, with significant support near $4,220.
- A drop below $4,220 could lead to further declines towards $4,150 or $4,120.
Technical Indicators
- MACD: Gaining momentum in the bearish zone.
- RSI: Below the 50 mark.
- Major Support Level: $4,250
- Major Resistance Level: $4,350