Ethereum’s Descent: A Tale of $3K and Disappointment 🐢💸

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Alas, dear reader, Ethereum‘s price has once more failed to maintain its lofty position above the three-thousand-dollar mark, descending instead to the humble realm of $2,770. One might wonder if this is a mere pause or the beginning of a most unflattering spectacle.

  • Ethereum, in a most unseemly manner, commenced a fresh descent after its futile attempt to remain above $3,000, a feat as improbable as a gentleman’s dance at a country ball.
  • The price now languishes below $3,000, a state of affairs most unbecoming, and further beneath the 100-hourly Simple Moving Average, that most reliable of indicators-though one might question its reliability in such trying times.
  • A key bearish trend line, ever the fickle suitor, forms with resistance at $3,050, a figure as tantalizing as a distant cousin’s inheritance.
  • If the price should settle below $2,800, one fears the worst, for such a move might herald a continued decline, a fate as dire as a ruined ball gown.

Ethereum Price Dips Further

Ethereum’s price, ever the fickle lover, failed to ascend beyond $3,050, and thus began a fresh decline, much like its counterpart, Bitcoin. The price dipped below $3,000, a most unflattering spectacle, and entered a bearish zone, where hope is but a distant memory.

The decline, swift and unrelenting, gathered pace below $2,880, and the price fell further, reaching a low of $2,770. It now consolidates its losses, a most ungraceful display, beneath the 23.6% Fib retracement level of its recent decline from the lofty $3,058 swing high to the pitiful $2,770 low.

Ethereum’s price now trades below $3,000 and the 100-hourly Simple Moving Average, a double whammy of despair. Should there be another recovery wave, the price might face resistance near $2,920, a figure as elusive as a gentleman’s promise.

The next key resistance, a most stubborn adversary, lies near $2,950. The first major resistance, ever the fickle friend, sits near $3,050. A clear move above this threshold might send the price toward $3,120, a distant dream, and perhaps even $3,220 or $3,250, though such gains seem as likely as a snowball’s chance in hell.

Another Drop In ETH?

If Ethereum fails to clear the $2,920 resistance, it may commence a fresh decline, a fate as inevitable as the setting sun. Initial support on the downside, a most unreliable ally, lies near $2,770. The first major support, ever the timid soul, sits near $2,740.

A clear move below this support might send the price toward $2,680, a most unappealing destination. Further losses might propel it toward $2,620, and eventually the $2,550 and $2,500 zones, a descent as bleak as a winter’s night.

Technical Indicators

Hourly MACD – The MACD for ETH/USD, that most reliable of indicators, is gaining momentum in the bearish zone, a most disheartening sight.

Hourly RSI – The RSI for ETH/USD, once a beacon of hope, now languishes below the 50 zone, a most unflattering state.

Major Support Level – $2,770

Major Resistance Level – $3,050

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2025-11-21 07:37