Oh dear, it seems Ethereum has tripped over its own shoelaces! The price began its dramatic nosedive after it couldn’t manage to hop over $3,050. Now, ETH is down 10%, flapping its little arms as it desperately tries to cling onto the slippery support at $2,700.
- Our dear Ethereum couldn’t hang on above $2,880 and decided it was time for a fresh decline-how very dramatic!
- The price is now playing hide and seek below $2,800 and the 100-hourly Simple Moving Average. Spoiler alert: it’s not winning!
- A steep bearish trend line is forming-yes, folks, it’s not just any trend line, it’s got resistance at $2,820 on the ETH/USD hourly chart (thanks, Kraken, for the gossip).
- If Ethereum can just hold its breath and stay above the $2,700 zone, it might just have a shot at a cheerful little bounce!
Ethereum Price Takes a 10% Tumble!
In a move that shocked absolutely no one, Ethereum failed to keep its composure above $2,880 and dove headfirst into a major decline-just like Bitcoin! The ETH price slipped below $2,820 and entered the gloomy bearish realm.
The bears-those pesky creatures-pushed the price down to a low of $2,680. It’s now showcasing its sad bearish signs while lounging beneath the 23.6% Fib retracement level from the recent high of $3,040 down to the pitiful low of $2,680. And yes, there’s that steep bearish trend line forming with quite the attitude at $2,820!
Currently, Ethereum is sulking below $2,800 and the 100-hourly Simple Moving Average. But hold onto your hats, because if the bulls decide to wake up and frolic above $2,700, we might see a feeble attempt at a rise. Immediate resistance is lurking around the $2,765 mark, and the first key resistance is at $2,820-oh, the suspense!
The next big hurdle comes near the $2,860 level, which also happens to be the 50% Fib retracement level from our grand decline. If Ethereum can muster the strength to leap over the $2,860 resistance, it might just waddle towards the $2,900 barrier. And if that pesky $2,900 gives way, it could be a wild ride up to the glorious $3,000 or even $3,050 soon!
Are More Losses on the Horizon for ETH?
If Ethereum can’t shake off that stubborn $2,820 resistance, it may very well start a fresh descent into the depths of despair. The first line of defense is at the $2,700 level, but if that crumbles, watch out for the first major support near $2,680.
A decisive dip below $2,680 could send the price tumbling toward $2,620. More losses? Oh, they might just drag Ethereum down to the murky depths of $2,550. And let’s not forget the ominous main support lurking at $2,500!
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone-surprise, surprise!
Hourly RSI – The RSI for ETH/USD has taken a nosedive and is now below the 50 zone. How thrilling!
Major Support Level – $2,700
Major Resistance Level – $2,820
Read More
- Best Controller Settings for ARC Raiders
- Ashes of Creation Rogue Guide for Beginners
- Is XRP ETF the New Stock Market Rockstar? Find Out Why Everyone’s Obsessed!
- 7 Home Alone Moments That Still Make No Sense (And #2 Is a Plot Hole)
- DCU Nightwing Contender Addresses Casting Rumors & Reveals His Other Dream DC Role [Exclusive]
- 10 Best Anime to Watch if You Miss Dragon Ball Super
- Neverness to Everness ‘Co-Ex Test’ sign-ups now available
- Best Werewolf Movies (October 2025)
- 10 Great Netflix Dramas That Nobody Talks About
- 7 Best Animated Horror TV Shows
2026-01-30 06:22