So, Ethereum tried to break through the $2,000 resistance, but guess what? It failed. Big surprise. 🙄 Now it’s stuck in this awkward consolidation phase, like a guy at a party who doesn’t know anyone. ETH is struggling near the $1,920 resistance, and honestly, it’s not looking great.
- Ethereum started a fresh decline below $2,000. Shocking, right? 🥱
- It’s now trading below $1,950 and the 100-hourly Simple Moving Average. Yawn.
- There’s this bearish trend line forming with resistance at $1,890. Like, who even cares? 🤷♂️
- To see any decent increase, it needs to clear $1,890 and $1,950. Good luck with that. 🍀
Ethereum’s price started a fresh decline from the $2,020 resistance, because of course it did. It’s like Bitcoin’s little brother, always following suit. ETH dropped below the $2,000 support and entered a bearish zone. The bears are having a field day, pushing it below the $1,820 support. Finally, the bulls showed up near the $1,750 zone, but let’s be real, they’re probably just as confused as everyone else.
There was a low at $1,753, and now the price is trying to correct some losses. It managed to move above $1,780 and $1,850, but whoop-de-doo. It cleared the 23.6% Fib retracement level, but it’s still trading below $1,950 and the 100-hourly Simple Moving Average. On the upside, it’s facing hurdles near $1,890, and there’s this bearish trend line forming. The next key resistance is near $1,920, but let’s not get our hopes up.
The first major resistance is near $1,950 and the 50% Fib retracement level. If it can clear $1,950, it might head toward $2,000. But let’s be honest, that’s a big “if.”
If it breaks above $2,000, it could rise toward $2,120 or even $2,250. But let’s not get ahead of ourselves. This is Ethereum we’re talking about. 🎢
If it fails to clear $1,890, it could start another decline. Initial support is near $1,845, and the first major support is near $1,800. If it drops below $1,800, it could head toward $1,750 or even $1,720. The next key support is at $1,650. So, yeah, it’s not looking great.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Big shocker. 😒
Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Yikes.
Major Support Level – $1,800
Major Resistance Level – $1,890
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2025-03-12 09:42