Ethereum‘s price has embarked on a new descent below the $1,620 zone, as though it were fleeing from an angry mob. But don’t worry, it might just regroup and give that $1,620 resistance a second glance.
- Ethereum made an uninvited drop below the $1,620 and $1,600 levels. It’s like it’s playing a game of “how low can you go?”
- The price now trades below the $1,620 threshold and the 100-hourly Simple Moving Average—basically saying, “I’m not feeling too fancy right now.”
- There was a dramatic break above a connecting bearish trend line with resistance at $1,590 on the hourly chart of ETH/USD (a momentary spark of hope).
- If Ethereum has any fight left, it could start rising again if it breaks the $1,615 resistance zone. Maybe. Who knows?
Ethereum Price Faces More Walls Than a Prison
Ethereum had trouble climbing over $1,690 and decided to take a leisurely fall. Bitcoin followed suit—because misery loves company. ETH fell below the $1,600 and $1,580 support levels. It even plummeted beneath $1,550, like a bad day at the casino.
A low was formed at $1,538, and Ethereum is now attempting some kind of recovery, perhaps in hopes of restoring its dignity. It climbed above the $1,580 mark, like a triumphant underdog. Oh, and it also passed the 23.6% Fibonacci retracement level of the downward move from $1,690 to $1,538. I’m sure Fibonacci would be thrilled.
Not to be outdone, Ethereum broke above a bearish trend line with resistance at $1,590, like a superhero in a movie that had no right to win. Yet, it’s still hanging out below $1,620 and the 100-hourly SMA, a little like that one person who shows up late to the party.
Upward momentum is facing some serious roadblocks near $1,600. The next key resistance zone is hanging around the $1,615 mark, which feels like a steep hill. The first major resistance stands at $1,655—an even bigger obstacle for our brave hero.
If Ethereum decides to make a comeback and break the $1,655 barrier, it might race toward $1,700 like a speedster in a Formula 1 car. A victory here could push it toward $1,750 or even $1,800—dreams can come true, right?
More Drops? Or Just a Side Step?
If Ethereum falters and fails to crack the $1,615 resistance, we may see another crash. The initial support is hanging out at $1,5750—don’t blink, or you might miss it. The first big line in the sand is near the $1,540 zone.
If the price breaks below $1,540, Ethereum might slip into the $1,480 abyss. Any more losses could send it spiraling toward $1,420, and then—who knows? It might just hit the $1,400 mark, where it’s cozy and ready to make new friends.
Technical Indicators
Hourly MACD – The MACD is slowly losing steam in the bearish zone. It’s like it’s giving up on life.
Hourly RSI – The RSI is currently below the 50 zone. Someone might want to check on it. It’s looking a little weak.
Major Support Level – $1,540 (If Ethereum gets a move on, that’s where it might find comfort.)
Major Resistance Level – $1,655 (A little higher, a little farther—can Ethereum make it?)
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2025-04-18 06:26