Ethereum $ETH is facing strong bearish pressure, trading below the $2,700 level as selling momentum increases. After failing to break above the $2,800 resistance zone, ETH saw a fresh decline, raising concerns about a potential move toward $2,500.
Ethereum Price Struggles: Key Levels to Watch
Ethereum recently attempted to push past $2,720, but bullish momentum weakened, and ETH failed to clear $2,800. This led to a drop below $2,750 and $2,720, with ETH now trading below $2,700 and the 100-hourly Simple Moving Average (SMA).
A significant break below a key bullish trend line with support at $2,680 (ETH/USD data via Kraken) confirmed the bearish sentiment. The price is now testing key support levels, and the 76.4% Fibonacci retracement level of the recent move from $2,614 to $2,791 is holding for now.
Resistance Levels to Watch
If Ethereum attempts a recovery, it will face resistance at:
$2,680 – Initial resistance level.
$2,720 – First major resistance.
$2,780 - $2,800 – Strong resistance zone.
A break above $2,800 could trigger a move toward $2,880 and possibly $3,000 in the coming sessions.
More Losses Ahead for ETH?
If Ethereum fails to reclaim $2,720, the next major support levels to watch are:
$2,655 – Immediate support.
$2,615 – Crucial support zone.
$2,550 - $2,500 – A break below this level could accelerate selling pressure.
$2,440 – Next major support if ETH continues to decline.
Technical Indicators
📉 Hourly MACD – Gaining momentum in the bearish zone.📉 Hourly RSI – Below 50, indicating increasing selling pressure.🔵 Major Support – $2,650🔴 Major Resistance – $2,720
Final Thoughts
Ethereum is at a critical price zone, and the coming days will be crucial. A move above $2,720 could spark a rebound, but failure to hold $2,650 may lead to further losses toward $2,500 or lower.
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