Ethereum‘s price, ever the fickle lover, has once again turned its back on the $3,300 mark, retreating with the grace of a disgruntled penguin. ETH, now a beleaguered soul, is huddling in the shadows of $3,150, where the bears prowl like wolves in a snowstorm. 🐺
- Ethereum, in a fit of pique, has plunged below the $3,250 threshold, leaving investors in a state of mild despair. 📉
- The price, a wretched thing, now dangles below $3,220, as if dangling from a fraying rope of hope. 🧗♂️
- A short-term declining channel, the market’s latest attempt at a masquerade ball, has formed with resistance at $3,210. The hourly chart of ETH/USD, ever the drama queen, whispers of doom. 🎭
- If ETH can cling to the $3,160 zone, perhaps it might muster a feeble sigh of relief. But don’t hold your breath. 🫠
Ethereum’s Price: A Struggle for Supremacy
Ethereum’s price, that most unreliable of companions, failed to maintain its composure above $3,280, descending with the elegance of a lead balloon. ETH, like a forlorn lover, slipped below $3,250 and $3,220, plunging into a bearish abyss. 🐻
The bears, those relentless adversaries, have pushed the price below the 61.8% Fib retracement level of the recent wave from $3,060 to $3,402. The price, now a trembling wretch, tested $3,160 and is currently consoling itself with a cup of tea. 🍵
Ethereum’s price, a sorry sight, now hovers below $3,220 and the 100-hourly Simple Moving Average. If the bulls can shield it from further losses, perhaps a flicker of hope might ignite. 🔥
Immediate resistance, that elusive dream, lies near $3,220. The first key resistance, a siren’s call, is at $3,260. The next major resistance, a fortress of hope, is at $3,280. A clear breach above $3,280 might see Ether ascend toward $3,320, and perhaps even $3,400 or $3,450. But let us not get ahead of ourselves. 🧠
Downside Continuation In ETH?
If Ethereum fails to conquer $3,220, it may embark on another descent, as predictable as a pendulum in a clock. Initial support, that fragile crutch, is near $3,160. The first major support, a stubborn rock, sits at $3,140 or the 76.4% Fib retracement level. 🧱
A clear drop below $3,140 might send the price scurrying toward $3,080. Further losses could see it plunge to $3,050, with the main support at $3,000. A true test of endurance, one might say. 🧘♂️
Technical Indicators
Hourly MACD – The MACD for ETH/USD, that most fickle of allies, is gaining momentum in the bearish zone. 🐍
Hourly RSI – The RSI for ETH/USD, now a fugitive from the 50 zone, whispers of despair. 🧠
Major Support Level – $3,160
Major Resistance Level – $3,220
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2026-01-20 06:25