Ethereum’s $2,880 Dive: Bears Are Having a Party! 🐍💸

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Ethereum price started a fresh decline below $2,950. ETH is down over 5%, trading below $2,880, and might continue to move down. Because nothing says “I’m a crypto bro” like a 5% drop. 🐍💸

  • Ethereum started a fresh decline below $2,950 and $2,900. Because who needs stability when you can have a rollercoaster? 🎢
  • The price is trading below $2,880 and the 100-hourly Simple Moving Average. Because even averages are getting their feelings hurt. 😢
  • There was a break below a key bullish trend line with support at $2,990 on the hourly chart of ETH/USD (data feed via Kraken). Because bulls are now just sad unicorns. 🦄
  • The pair could continue to move down if it settles below the $2,800 zone. Because $2,800 is the new “I’m not crying, you’re crying.” 💦

Ethereum Price Dips Over 5%

Ethereum price failed to stay above $3,000 and started a fresh decline, like Bitcoin. ETH price declined below $2,880 to enter a bearish zone. Because nothing says “I’m a financial genius” like a bear market. 🐻

There was a break below a key bullish trend line with support at $2,990 on the hourly chart of ETH/USD. The bears even pushed the price below $2,850. A low was formed at $2,815 and the price is showing bearish signs below the 23.6% Fib retracement level of the downward move from the $3,052 swing high to the $2,815 low. Because even Fibonacci is now a conspiracy theorist. 🧠

Ethereum price is now trading below $2,900 and the 100-hourly Simple Moving Average. If there is another upward move, the price could face resistance near the $2,880 level. Because resistance is just a fancy word for “I’m not buying this.” 🚫

The next key resistance is near the $2,940 level or the 50% Fib retracement level of the downward move from the $3,052 swing high to the $2,815 low. The first major resistance is near the $2,960 level. A clear move above the $2,960 resistance might send the price toward the $3,000 resistance. An upside break above the $3,000 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,050 resistance zone or even $3,150 in the near term. Because why not? 🚀

More Losses In ETH?

If Ethereum fails to clear the $2,960 resistance, it could start a fresh decline. Initial support on the downside is near the $2,820 level. The first major support sits near the $2,800 zone. Because even support is getting tired of this. 😴

A clear move below the $2,800 support might push the price toward the $2,740 support. Any more losses might send the price toward the $2,720 region in the near term. The next key support sits at $2,650 and $2,620. Because the deeper you fall, the more dramatic the comeback. 🎭

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Because nothing says “I’m thriving” like a bear market. 🐻

Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Because even the RSI is taking a nap. 🛌

Major Support Level – $2,800

Major Resistance Level – $2,940

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2025-12-01 07:37