🪨 ETH Rejected Again — What’s Blocking the Bull Run? 🚫🐂
Ethereum’s getting the cold shoulder again! ❄️ After reaching $2,320, ETH reversed gains and is now showing signs of weakness. If the bears stay in charge, we could see a dip below $2,220 soon! 📉
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🔁 Recent Price Action:
ETH touched $2,320 after correcting from the $2,580 high.
Now trading below $2,500 and the 100-hour SMA 🧠⚙️.
A bearish trend line is forming on the hourly ETH/USD chart, with resistance near $2,540. 📊❌
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🩸 Ethereum Drops Again Unlike Bitcoin’s strength, ETH failed to break $2,520 and slid downward.
Bears pushed the price under $2,500 and $2,440 🐻💢.
It even broke the 50% Fib retracement from the swing low at $2,308 to the high of $2,509.
Bulls fought back near $2,400, keeping the price above the 61.8% Fib level.
But... ETH has dipped under $2,450 and the 100-hour SMA, facing a key resistance zone around $2,540. 🛑
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📈 Possible Upside Scenario
Next resistance: $2,460
Bigger barrier: $2,500–$2,550 zone
A strong breakout above $2,550 could open the gates to $2,580 and beyond!
Break that and ETH might fly to $2,700 or even $2,780 soon! 🚀📈💥
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📉 Possible Downside Risk
If ETH fails to reclaim $2,500, it could dip again.
Key supports: $2,400, then $2,350
A break below $2,350 could pull ETH down to $2,320, and if pressure continues — $2,220 and $2,120 are next! 🕳️🔻
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🔧 Technical Indicators:
MACD: Bearish momentum is building 📉
RSI: Below 50 — bears have the edge 🐻
Major Support: $2,400
Major Resistance: $2,500
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Final Take:
ETH is at a critical crossroads! Will it break the ceiling or slide further? 📉📈
Watch $2,500–$2,550 for the breakout — or keep an eye on $2,350–$2,220 if the bears bite back. Stay alert, traders! 🧠⚠️