Ethereum Struggles to Stay Above Water, Bulls Still Clutching at Hope

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Ethereum, once a beacon of digital hope, has started its all-too-familiar slide beneath the $2,880 mark. The price is now struggling to lift itself from the depths of $2,720, though the bulls seem stubbornly optimistic (or perhaps just stubborn).

  • Ethereum has begun its sad, slow descent below $2,880 and $2,800.
  • The price is languishing beneath $2,850 and the elusive 100-hourly Simple Moving Average.
  • A short-term bearish trend line, as if it had nothing better to do, has set up camp at $2,820 on the hourly chart of ETH/USD (data feed via Kraken).
  • If Ethereum manages to claw its way above the $2,850 mark, it could see some respite. If, that is, the universe has a sense of humor.

Ethereum’s Half-Hearted Recovery Attempt

Ethereum, much like a hangover after a crypto party, failed to maintain any semblance of dignity above $2,950, beginning a fresh decline as though it were a sport. The price dropped below $2,880, casting it squarely into the bearish abyss. And if you think that’s bad, it even dropped below $2,800 for good measure.

A low was set at $2,718, where Ethereum seems to be contemplating life. There’s a slight uptick, with the price crawling back above $2,750 like a baby trying to walk after a nasty fall. It has even climbed above the 23.6% Fib retracement level of the downward plunge from the $3,052 high to the $2,718 low-tiny victories.

But alas, Ethereum still resides beneath $2,850 and the 100-hourly Simple Moving Average, an elusive prize for the bulls. If, by some miracle, it manages another upward push, resistance looms large at the $2,820 level. Even more resistance is forming like an unwanted guest at a party, as there’s also a short-term bearish trend line staked firmly at $2,820 on the hourly chart of ETH/USD.

The next stop on the resistance tour is at $2,880, or the 50% Fib retracement level from the descent of $3,052 to $2,718. If Ethereum dares to face down the $2,920 resistance, it could propel itself back toward the $3,000 territory. A gallant rise above $3,000 might just be the stuff of legends, pushing Ether toward $3,050 or even $3,150. A true crypto fairytale, though the plot is yet to be written.

Is Ethereum Heading for Another Downturn?

If Ethereum can’t break the $2,880 resistance (and let’s be real, the odds are stacked), it may very well spiral into another decline. Support starts at $2,760, though the real drama begins around $2,740.

If Ethereum dares to drop below $2,740, it could very well end up at $2,720, setting the stage for more woe. Further losses might drag it toward $2,650, and who knows-perhaps even the dreaded $2,550 or $2,500 support levels. The plot thickens…

Technical Indicators

Hourly MACD – ETH/USD’s MACD is gradually losing its bearish momentum, like someone reluctantly stepping off the stage.

Hourly RSI – The RSI is below 50, signaling that the momentum is far from favorable.

Major Support Level – $2,720

Major Resistance Level – $2,880

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2025-12-02 06:44