So, Ethereum decided to go on a little vacation from its $2,850 dream house. Now it’s down over 10% and stuck in a hole, desperately clinging to the $2,500 life raft.
- Looks like everyone’s selling off Ethereum like yesterday’s news below $2,650. Who needs friends?!
- It’s playing hide and seek below $2,750 and the 100-hourly Simple Moving Average—so much for keeping it simple!
- Oh, and there’s a joyless bearish trend line throwing a party with resistance at $2,600 on the ETH/USD dance floor (thanks, Kraken 😉).
- If by some miracle it decides to rise from the ashes, watch for it to plod past $2,600 and $2,650 like it’s crossing the finish line of a tortuous marathon.
In other news, Ethereum couldn’t even break the $2,850 barrier and has now entered the “Oh dear, what have I done?” phase, dropping worse than that time I tried to cook pasta. With a plummet below $2,720 and into bearish territory under $2,650, we’re all feeling a bit woeful.
After taking a swan dive below $2,550, it flirted with a low of $2,458. Now it’s hanging about, trying to gather its thoughts below the 23.6% Fib retracement level like it’s been ghosted.
As for trading, Ethereum is sitting below $2,600 and the 100-hourly Simple Moving Average. If it were a social media post, it’d definitely be “Below 100 likes!”
Hurdles? The price is acting like it’s at a gym—struggling near $2,550, facing major resistance at $2,600. The big boss? $2,650, or the 50% Fib retracement level. Just great. 🏋️
To sum it up, if it manages to climb above $2,650, we’ll start dreaming of $2,750 land—who knows, we might leap to the enchanted $2,850 or even the mythical $2,920! Life is a rollercoaster, right?
But if it flops and can’t break that pesky $2,600 resistance, we could be looking at more emotional losses. Initial support hangs around the $2,550 zone, but the first major distress signal comes in at $2,450.
If it takes a detour below $2,450, we could be spiraling towards $2,320. Seriously, who even wants to pencil in $2,250 right now? And don’t get me started on $2,120—it sounds like an eviction notice!
Technical Indicators:
Hourly MACD – The MACD for ETH/USD is busily throwing a pity party in the bearish zone.
Hourly RSI – The RSI for ETH/USD is below 50—congratulations, it’s not even passing!
Major Support Level – $2,450
Major Resistance Level – $2,650
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2025-02-25 06:24