The Ethereum price, like a weary traveler in a Russian winter, could not sustain itself above the $3,000 mark and descended further into the abyss. ETH now lingers in a state of uneasy repose, as if gathering strength for a feeble attempt at redemption-should it ever breach the formidable $2,880 fortress.
- Ethereum, with the grace of a drunken nobleman, stumbled below the $2,950 threshold.
- The price now cowers beneath $2,900, shivering beneath the indifferent gaze of the 100-hourly Simple Moving Average.
- A sinister, serpentine trend line coils menacingly at $2,920 on the hourly chart of ETH/USD (data courtesy of Kraken, that ever-watchful sentinel).
- Should the price falter further and collapse below $2,800, despair may well consume the hearts of traders.
Ethereum Plunges to Depths Unseen Since Last Week
Ethereum, ever the optimist, endeavored to rise-only to be smacked down by the cruel hand of fate, much like its compatriot Bitcoin. ETH slithered beneath $2,950 and $2,920, tumbling headlong into the bear’s den.
The bears, those relentless tormentors, shoved the price below $2,850, extracting a pitiful whimper at $2,790. Now, the price wallows in its misery, far removed from even the faintest glimmer of hope-the 23.6% Fib retracement level of its ignoble descent from $3,175 to $2,790.
Ethereum languishes below $2,900, scorned by the 100-hourly Simple Moving Average, while that accursed trend line looms overhead at $2,920.
Should some foolhardy rally attempt emerge, resistance awaits at $2,880-followed by the treacherous $2,920 and its accompanying trend line. Beyond that lies the 50% Fib retracement level of the aforementioned descent, lurking at $2,980 like a creditor at the door.
A triumphant surge past $2,980 might-might-propel the price toward $3,030. And should fortune smile, Ether could even dream of $3,120 or, heavens forbid, $3,150. But let us not indulge in such fantasies.
Yet Another Descent Into Madness?
Should Ethereum fail to conquer $2,880, it may well embark upon another tragic journey downward. The first pitstop on this descent? A humble $2,800. Beyond that, the abyss yawns at $2,780.
A decisive breach of $2,780 may send the price tumbling toward $2,740-and if fate is truly merciless, $2,625. And then? Ah, the final resting place: $2,550.
Technical Indicators
Hourly MACD – The MACD for ETH/USD, like a starving wolf, gnashes its teeth in the bearish zone.
Hourly RSI – The RSI for ETH/USD sulks below the 50 mark, as though chastened by its own failures.
Major Support Level – $2,780 (where hope goes to die)
Major Resistance Level – $2,920 (where dreams are crushed)
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2025-12-18 06:26