ETH’s Wild Ride: Bears, Breakouts, and Bar Closures

Bears are prowling the market today, and apparently, they’ve got more initiative than a group project leech. 🐻 According to CoinStats, it’s not the day to buy that Lambo just yet.

ETH/USD

Ethereum (ETH) has taken a swan dive off the high board, losing 2.08% since yesterday. Honestly, ETH has seen better days… like last week. That was nice.

In the hourly chart, ETH is giving off some seriously moody vibes. If the local support of $2,755 gets busted, we’re looking at a downward spiral faster than my New Year resolution to hit the gym. Hello, $2,700 zone. 👋

Zooming out, things aren’t looking much better on the “big picture” time frame. Key levels? Ha! ETH is keeping a polite distance from those. The daily bar’s closure will hold all the tea—if it cozies around $2,700, we’re probably on a train straight to $2,600-ville. Population: sad.

Midterm predictions? Too early to call. But if the bar pulls a dramatic long wick close, we might get a tiny bounce (think bouncy ball, not trampoline) back to $2,900-$3,000. Not quite champagne popping zones, but hey, we’ll take what we can get.

Currently, Ethereum is awkwardly huddling at $2,775. You doing okay, buddy? 🫤

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2025-02-06 18:36