Well, folks, it looks like Ethereum’s price took a nasty spill. Couldn’t quite make it over the $1,700 hurdle and dropped like a stone below $1,550. Now it’s on the mend, but watch out—there’s a tough crowd waiting at the $1,620 mark.
- Ethereum tried to cling to $1,620 and $1,550 like a cat on a hot tin roof. Didn’t quite make it.
- It’s been hanging out below $1,620 and is also playing second fiddle to the 100-hourly Simple Moving Average.
- There’s a bearish trend line stretching across the chart, and it’s got resistance at $1,615. Kind of like a door you can’t open no matter how hard you push.
- If Ethereum can’t bust through that $1,620 level, we might be in for another round of losses. Yippee.
Ethereum’s Price: Can It Break Through or Is It Just a Pipe Dream?
Ethereum took one for the team when it couldn’t stay above the $1,700 support zone. It fell like a lead balloon, just like Bitcoin. ETH dropped below both $1,650 and $1,620 in a hurry.
And just when you thought it was over, the bears showed up, pushing the price under $1,550. Ethereum hit rock bottom at $1,410 before dusting itself off and climbing a little bit back up. It made a move above $1,550, and for a moment, it seemed like it was trying to claw its way out of the hole. It even passed the 23.6% Fib retracement of its fall from the $1,815 high to the $1,410 low. Hooray for small victories!
But don’t get too excited just yet—those bears are still lurking around the $1,620 zone. Ethereum is hanging out below that level and the 100-hourly Simple Moving Average, and it looks like there’s a nice little resistance party near $1,615.
Oh, and there’s a bearish trend line forming at $1,615. It’s like a “no entry” sign. Plus, it’s near the 50% Fib retracement level. But wait, there’s more! The next major resistance is waiting patiently at $1,660, like a bouncer at the club.
If Ethereum can somehow smash through $1,720, we might be in for a wild ride to $1,820. And if it really feels like showing off, it could hit $1,880 or even $1,920 in the near future. But no pressure.
Is Ethereum About to Take Another Nosedive?
If Ethereum can’t shake loose from the $1,620 resistance, brace yourself—it might just fall again. The first line of defense is the $1,540 support level, but don’t get too comfortable.
If that breaks, the $1,505 zone could be next, like a big ol’ pit of despair. And if that fails? Well, the price might take another plunge toward $1,420. Things could get even uglier, with $1,380 waiting in the wings. And don’t forget $1,320—it’s like the last stop on this rollercoaster.
Technical Indicators
Hourly MACD – The MACD is starting to lose its bullish momentum. Could it be the calm before the storm?
Hourly RSI – The RSI is still above 50, so don’t pack up just yet. There’s still some life in this old dog.
Major Support Level – $1,540
Major Resistance Level – $1,620
Read More
- OM/USD
- Carmen Baldwin: My Parents? Just Folks in Z and Y
- Jellyrolls Exits Disney’s Boardwalk: Another Icon Bites the Dust?
- Solo Leveling Season 3: What You NEED to Know!
- Jelly Roll’s 120-Lb. Weight Loss Leads to Unexpected Body Changes
- Despite Strong Criticism, Days Gone PS5 Is Climbing Up the PS Store Pre-Order Charts
- Solo Leveling Season 3: What Fans Are Really Speculating!
- Joan Vassos Reveals Shocking Truth Behind Her NYC Apartment Hunt with Chock Chapple!
- Netflix’s Dungeons & Dragons Series: A Journey into the Forgotten Realms!
- The Perfect Couple season 2 is in the works at Netflix – but the cast will be different
2025-04-08 06:43