What a situation, my crypto folks! The price of Ethereum has us all wide-eyed, as if it's in limbo! After a small drop, ETH is sort of pausing, recovering a bit but without taking off with strength. If you expected this to rocket like a rocket, better get comfortable!

What's happening with Ethereum? 🧐

Attention, attention! Ethereum has dropped below $2,600, and right now it's kind of consolidating those losses, without much noise! Although it's trying to poke its head above $2,550, things are looking complicated.

We are told that the ETH price is below $2,550 and below the simple moving average of 100 hours. That doesn't sound very encouraging for those who want to see the price rise sharply! 📉 Additionally, it seems a weak upward channel is forming with weak support at $2,490. This is according to the data from Kraken, so stay alert!

ETH has been testing the $2,450 area and, although there was a small attempt to rise above $2,520, it hasn't been enough for the bulls to start running strongly. The bears have been pushing hard and even pushed it below $2,500!

Is a bullish explosion coming or more declines? 🎢

Now, the million-dollar question: is Ethereum preparing for a bullish breakout or to continue falling? Well, here's the deal: if ETH manages to break the resistance at $2,540, and then the important level at $2,565 (which is close to the 50% Fibonacci retracement), the next stop would be $2,620.

If the bulls really get their act together and clearly break above $2,620, then we could see ETH soar towards $2,660, and from there, who knows, even up to $2,720 or even $2,800 in the short term! 🚀

But be careful, not everything is rosy! If Ethereum cannot surpass the resistance at $2,565, we could see further declines. The first key support is at $2,490, and if it breaks that, the next step down is $2,455. And if that also disappears, get ready for $2,360, and who knows, maybe even down to $2,320 or $2,250! 😩

What technical indicators say and what to expect 📊

According to experts, the hourly MACD for ETH/USD is losing strength in the bearish zone, which could indicate that selling pressure is decreasing. However, the hourly RSI for ETH/USD is already above the 50 zone, which sometimes signals that it may start to turn bullish.

Key levels to keep in mind:

  • Main support: $2,455

  • Main resistance: $2,565

So, stay very alert, my people! Ethereum is at a decisive moment. Will the bulls have the strength to give it a push or will the bears continue to set the pace? Only time will tell! And you, what do you think will happen with ETH? 💭$ETH