You Won’t Believe What Ethereum’s Doing Now! 😱

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Buckle up, folks! It’s time for another wild ride on the Ethereum rollercoaster. 🎢 The bears are out in full force, and they’re not playing nice. 🐻

Ethereum’s struggling to break through the $3,400 resistance, and it’s showing some serious bearish signs. 📉 In fact, it might even dip below the $3,150 support level. Yikes! 😬

  • Ethereum couldn’t even manage to close above $3,350 and $3,400. What a letdown! 😒
  • The price is trading below $3,300 and the 100-hourly Simple Moving Average. Looks like the bears are in control. 🐻
  • There was a break below a key contracting triangle with support at $3,270. Uh-oh, that’s not good. 😟
  • But hey, if Ethereum can stay above the $3,120 support level, it might start another increase. Fingers crossed! 🤞

Ethereum price broke through the support, and the bears are having a field day. 🐻 The price started a decent upward move from $3,220, but the bulls couldn’t keep up with Bitcoin. 🐂

ETH managed to clear the $3,300 resistance, but then the bears showed up and ruined the party. 🙄 A high was formed at $3,361, and now the price is heading lower. There was a move below the $3,250 and $3,220 support levels, and the key contracting triangle support at $3,270 was broken. 😱

Ethereum is now trading below $3,300 and the 100-hourly Simple Moving Average. The price is facing hurdles near the $3,280 level or the 50% Fib retracement level. 🤔 The first major resistance is near the $3,300 level or the 61.8% Fib retracement level. The main resistance is now forming near $3,350. 💪

If Ethereum can’t break above the $3,350 resistance, it could start another decline. 📉 Initial support on the downside is near the $3,200 level, but the first major support sits near the $3,150. 💥 A clear move below the $3,150 support might push the price toward the $3,120 support. Yikes, that’s not good! 😱

Technical indicators are looking pretty bearish too. The MACD for ETH/USD is gaining momentum in the bearish zone, and the RSI is now below the 50 zone. 📉 Looks like the bears are in control for now. 🐻

So, what’s the verdict? Is Ethereum headed for a deeper pullback? 🤔 Only time will tell, but one thing’s for sure: it’s gonna be a wild ride! 🎢 Buckle up, folks, and get ready for some serious drama! 😂

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2025-01-23 06:40