The ether began the day like any other: full of promise and absurd optimism. It soared indignantly above the $2,720 barrier, much as a hungry cat leaps onto a table seconds before being shooed away by fate—or, in this case, the market. Now, it sits correcting its gains, contemplating a return to that $2,500 bench where old coins go to reminisce.
- Ethereum rose up, pierced the $2,720 ceiling, and for a moment believed it could fly (spoiler: it could not).
- The price idles above $2,520, comfortably nestled against the 100-hourly Simple Moving Average, a technical bed too lumpy for most dreamers.
- Some chartists whisper of a declining channel, perhaps a bullish flag, forming resistance near $2,630. Or it could just be painter’s tape—hard to tell these days.
- ETH may soon visit $2,500 again, as if checking in on an old aunt. The market waits with bated breath or at least mild irritation. 🤷♂️
Yet Another Dip, Like The Inevitable Arrival Of Autumn
Ethereum, always the diligent student of disappointment, stayed supported and crawled above $2,620, overtaking even Bitcoin for a moment (Bitcoin, as usual, didn’t notice). Bulls marched boldly above $2,650, hoping for a parade, yet only finding a solitary confetti streamer at $2,736 before markets tugged them back to reality.
Not to be outdone by its own past, ETH dipped below $2,650, and for variety’s sake, spiked below the 50% Fib retracement. Apparently, retracement levels are the new plot twists.
But the bulls—those tireless romantics—still linger north of $2,550. ETH sits above its 100-hourly SMA, pondering the resistance at $2,620 with all the hope of a suitor outside a locked door. Channel? Flag? Who knows—call it what you will, the resistance at $2,630 looms like a mother-in-law at dinner.
Resistance at $2,680 stands next in line, then the $2,720 peak—legend says those who cross it may catch a glimpse of $2,820 before gravity does its thing. If, in a fit of euphoria, Ether breaches even that, $2,880 or $2,950 come into view, presumably where unicorns and early adopters reside.
Should You Prepare For More Tears?
If ETH fails to muster the strength to topple $2,630, the downside correction returns—think of it as winter returning after a suspiciously short spring. Initial consolation can be found at $2,575, but the real therapy session is at $2,500 or the relentless 76.4% Fib retracement. Lower still, the $2,420 level waits, a silent reminder that the floor is always further than one thinks.
If the spiral continues, $2,350 or even $2,320 might greet us. Perhaps buy snacks for the journey.
Technical Indicators, For Those Who Still Hope:
- Hourly MACD — Its bullish momentum suspiciously absent, much like a waiter when you need your check.
- Hourly RSI — Now below 50, which is, I’m told, ‘not ideal’.
- Major Support Level – $2,575 and a forgiving spirit.
- Major Resistance Level – $2,680 and optimism (optional).
In conclusion, the fate of Ether remains uncertain. Then again, so does the fate of all men—and only the bold, or the forgetful, may buy now. 🤐💸
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2025-05-15 06:29