A naukri.com initiative
Cryptoticker
2w
377
Image Credit: Cryptoticker
Ethereum Just Hit Key Support – What Happens Next Will Shock You
- Ethereum, the second-largest cryptocurrency, is facing a critical moment as its price hovers around $2,260 after a decline from a peak of $3,800 in May 2025.
- Traders are uncertain about the future price movement of Ethereum as key support levels are being tested, with concerns about a potential further drop in price.
- The current downtrend in Ethereum's price is attributed to broader market weakness, ETF outflow fears, and Bitcoin's recent decline below $62,000.
- The chart analysis indicates bearish momentum with Ethereum currently testing the 0.618 Fibonacci level at $2,250, a historically strong support zone.
- The Relative Strength Index (RSI) is at 34.98, signaling oversold conditions, but a bullish reversal is not confirmed yet due to the absence of clear divergence.
- Potential near-term price targets for Ethereum include an immediate resistance at $2,300 and $2,480, while key support zones are at $2,200, $2,000, and $1,700.
- If selling pressure intensifies, Ethereum's price could drop further to $1,450–$1,500, representing a 22% decrease from the current level.
- A potential reversal in Ethereum's price would require a daily close above $2,300 and a positive RSI trend, signaling exhaustion of selling pressure.
- Traders are advised to monitor RSI recovery, volume changes, and Bitcoin's price movements, as these factors will influence Ethereum's short-term direction.
- The next few days are crucial for Ethereum's price trajectory, with a possible sharp decline if support at $2,200 is breached or a rebound towards $2,500 if it holds.
Read Full Article
22 Likes
For uninterrupted reading, download the app