Ethereum’s Bearish Turn—Why the Slide Might Just Be Getting Started

Crypto’s silver medalist takes a pounding as bears maul ETH’s defenses. The $3K support? Gone like a hedge fund’s promises during a bull run.

Blood in the streets—Technical indicators flash red as selling pressure mounts. That ’buy the dip’ crowd? Suddenly quieter than a Bitcoin maximalist at an Ethereum developer conference.

Market psychology flip—What was unshakable faith in The Merge now looks like nervous paper hands. Even the stakers are sweating through their Ledgers.

Watch the macros—Because nothing tanks crypto faster than traditional finance catching a cold. Spoiler: The Fed still hates your digital gold.

The cynical take—This could be the healthy correction ETH needs... or the start of a beautiful relationship between your portfolio and regret. Either way, the blockchain doesn’t care about your feelings.

Ethereum Price Struggles To Clear Resistance

Ethereum price failed to clear the $1,880 resistance and started a downside correction, like Bitcoin. ETH declined below the $1,850 and $1,820 support levels.

There was a move below the 50% Fib retracement level of the upward move from the $1,734 swing low to the $1,872 high. The bears even pushed the price below the $1,800 level, but the price found support NEAR the $1,785 support level.

Ethereum price is now trading below $1,800 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance at $1,830 on the hourly chart of ETH/USD.

On the upside, the price seems to be facing hurdles near the $1,820 level. The next key resistance is near the $1,830 level and the trend line. The first major resistance is near the $1,880 level.

A clear move above the $1,880 resistance might send the price toward the $1,920 resistance. An upside break above the $1,920 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,000 resistance zone or even $2,050 in the near term.

More Losses In ETH?

If Ethereum fails to clear the $1,830 resistance, it could start a fresh decline. Initial support on the downside is near the $1,785 level and the 61.8% Fib retracement level of the upward move from the $1,734 swing low to the $1,872 high. The first major support sits near the $1,750 zone.

A clear move below the $1,750 support might push the price toward the $1,720 support. Any more losses might send the price toward the $1,685 support level in the near term. The next key support sits at $1,640.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 zone.

Major Support Level – $1,765

Major Resistance Level – $1,830