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15 hour ago
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BEARISH 📉 : Ethereum struggles below $2,265, risks further decline

Ethereum Price Update:

  • Ethereum's price declined below $2,220 and $2,200 but is attempting a recovery from the $2,000 level.
  • The price failed to maintain stability above $2,320, entering a bearish zone and trading below $2,265 and the 100-hourly SMA.
  • A major bearish trend line forms resistance at $2,250 on the ETH/USD hourly chart.
  • Price tested the 23.6% Fib retracement level from the $3,040 swing high to the $2,107 low.

Resistance and Support Levels:

  • Immediate resistance near $2,250, with key resistances at $2,265 and $2,460.
  • An upside break above $2,575 could lead to further gains toward $2,680 or $2,700.
  • If resistance at $2,265 isn't cleared, Ethereum may decline, with initial support at $2,200 and major support at $2,175.
  • A move below $2,175 could push the price toward $2,120 or even $2,050; main support lies at $2,000.

Technical Indicators:

  • Hourly MACD: Gaining momentum in the bearish zone.
  • Hourly RSI: Below the 50 mark.

Ethereum Price