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9 hour ago
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BEARISH 📉 : Ethereum price struggles below $2,250 amid bearish momentum

  • Ethereum's price fell below $2,200 and $2,120, reaching a low of $2,073.
  • ETH is currently trading under the 100-hourly SMA and faces resistance at $2,255.
  • A significant bearish trend line forms resistance on the hourly ETH/USD chart.
  • If the price remains below $2,320, further decline is possible.

Price Movement Analysis

  • Ethereum's price failed to hold above $2,250, leading to further declines.
  • Immediate resistance levels are identified at $2,200 and $2,250.
  • Breaking above $2,390 could push ETH towards $2,550 or the 50% Fib retracement level from $3,040 to $2,073.

Ethereum Price

Potential for Further Losses

  • If Ethereum doesn't surpass the $2,250 resistance, it might drop again.
  • Initial support lies near $2,100, with major support at $2,075.
  • A break below $2,075 may lead to a decline toward $2,000 or even $1,880.

Technical Indicators

  • MACD: Gaining momentum in the bearish zone.
  • RSI: Positioned below the 50 mark.
  • Major Support Level: $2,075
  • Major Resistance Level: $2,250