Ethereum, in a fit of existential despair, has once again plunged from its lofty $3,480 perch. The bears, ever the sardonic jesters, now threaten to drag it below $3,250 with the enthusiasm of a funeral parlor.
– Ethereum, that most fickle of lovers, has embarked on another bearish romp after a brief dalliance below $3,450. A tragedy of epic proportions, if you’ll pardon the hyperbole.
– The price, now languishing below $3,400, is as low as a politician’s promise. Even the 100-hourly Simple Moving Average seems to have abandoned it, like a friend who’s seen enough.
– A new bearish trend line, as sharp as a dagger, looms with resistance at $3,380. One might call it a “price ceiling” – if ceilings were made of glass and hope.
– Should ETH dip below $3,250, the market will likely erupt in a chorus of “I told you so,” followed by a collective shrug of indifference.
Ethereum Price Dips Again
Ethereum, ever the melodramatic diva, failed to maintain its positivity and plunged from $3,480, mirroring Bitcoin’s tragic descent. A fresh decline, complete with a dash of $3,420 and $3,400, has left investors in a state of polite panic.
It seems the bears, in their infinite wisdom, have defended the 50% Fib retracement level of the downward spiral from $3,920 to $3,058. A triumph of strategy, or perhaps just the sound of a broken record.
Ethereum, now trading below $3,350, is as low as a punchline. Should it attempt a recovery, it will face resistance at $3,350, a barrier as insurmountable as a wall of sarcasm.
The $3,480 level, once a beacon of hope, now stands as a cruel joke. A move above it might spark a rally toward $3,580, though one suspects the market would rather watch paint dry than believe in such a miracle.
An upside break above $3,580? A pipe dream, my dear reader. But if it were to happen, Ether might ascend to $3,650 or even $3,675 – a feat as likely as a penguin learning to fly.
Another Decline In ETH?
If Ethereum cannot conquer $3,380, it will likely descend into the abyss of $3,250. A support level as reliable as a fortune cookie.
The $3,220 zone, a mere whisper of hope, awaits. A breach below it would send the price hurtling toward $3,150, a destination as welcoming as a cold shower.
Should losses mount, the $3,050 region looms like a specter. The next support, at $3,020 and $3,000, is as comforting as a well-timed “I told you so.”
Technical Indicators
Hourly MACD – A bearish beast, gnawing on optimism with the vigor of a hungry hyena.
Hourly RSI – Now below 50, a clear sign that the market has abandoned all pretense of cheer.
Major Support Level – $3,250: A price point as steadfast as a toddler’s resolve.
Major Resistance Level – $3,380: A ceiling as high as a celebrity’s ego.
Read More
- Gold Rate Forecast
- USD VES PREDICTION
- USD PLN PREDICTION
- FIL PREDICTION. FIL cryptocurrency
- INJ PREDICTION. INJ cryptocurrency
- JUP PREDICTION. JUP cryptocurrency
- EUR CNY PREDICTION
- STX PREDICTION. STX cryptocurrency
- USD CNY PREDICTION
- GBP EUR PREDICTION
2025-11-07 06:25