Ethereum’s Woes: Is ETH Finally in Trouble? A Tale of Bulls and Bears

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Well, well, well… Ethereum, the once-mighty titan of the crypto world, decided to take a little stroll down the *ouch* lane. On Friday, it dropped 4%, breaking through its August uptrend like a bad habit. Now the question is, was this a mere *hiccup*, a false alarm, or the start of something much juicier? Buckle up, folks, this ride is just getting started. 😏

$ETH breaking trend

The daily chart for $ETH shows a breakdown of the once glorious ascending trendline from August. Now, I know what you’re thinking: “Oh, maybe it’s just one of those ‘throw the towel in’ moments.” But hold your horses! The day’s not over yet, and who knows? Maybe a sudden boost from the crypto market-or a timely rally when the US stock market opens-will save the day. 📈

If the price keeps tumbling, however, $4,000 will be the knight in shining armor for the bulls. On the flip side, if the price decides to climb back up, we’re staring down a potential new all-time high at $4,950. But don’t get too giddy just yet, this could be a rollercoaster. 🎢

$ETH potential double top?

Now, let’s zoom out to the weekly chart. Oh, what’s that? A couple of nagging concerns cropping up? Yep, there’s a red candle swallowing up the last one like an overeager kid at a buffet. If this turns out to be a double top, then buckle up, because a breakdown could be on the horizon. The first top was back in 2021-talk about déjà vu! 👀

And at the bottom of the chart, the Stochastic RSI indicators are just chilling at the top of their range, like they own the place. But how much longer can they keep this up? History says it’s not a good sign when these bad boys linger above the 80.00 mark for too long. Two times in the history of $ETH, and both were… well, not great for the bulls. 🐂💔

ETH/BTC rejection from descending trendline

Let’s not forget about the *Epic Battle of the Titans*-$ETH vs. $BTC. The $ETH price is getting slapped around by the descending trendline like a rookie boxer. And just when you thought it couldn’t get worse, horizontal support at 0.04 looks like it’s ready to wave the white flag. 🏳️‍🌈

And yes, the Stochastic RSI indicators are still up there, hanging out like they’re too cool for school. But they’re running out of time, folks. Looks like a fall back to reality is on the way. 😬

So, where does this leave $ETH? Will it plummet to $3,500 or $3,000, those juicy support levels? Don’t write it off just yet-there’s still a chance the bull market’s not completely dead. But, and here’s the kicker, we might be looking at a correction between 30% to 40%. Ouch, my friends, ouch. 🤑

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2025-08-29 14:31