Ethereum’s price has dropped again, falling below $2,000. It’s now hovering around $2,000 and could keep declining. ETH is still in a bearish zone after slipping under $2,010. The price is trading below $2,010 and the 100-hour Simple Moving Average. On the hourly chart of ETH/USD (data from Kraken), a bullish trend line with support at $2,015 was broken. If the price stays below the $2,050 zone, it might continue to fall.
Ethereum price is still at risk of more downside. Like Bitcoin, ETH couldn’t hold above $2,040 and started dropping again. It fell below $2,020 and $2,010, even dipping under $1,985. A low of $1,965 was reached, and the price recently tried to recover a bit. It climbed above the 23.6% Fibonacci retracement level of the drop from the $2,140 high to the $1,965 low. But sellers stayed active near $2,040, pushing the price back below $2,020. The bullish trend line at $2,015 on the hourly chart was broken.
Ethereum is now trading below $2,010 and the 100-hour Simple Moving Average. If buyers stay active above $1,980, the price might try to rise again. The first resistance is around $2,020, with the next key level near $2,030. A major resistance is at $2,050, which is also the 50% Fibonacci retracement level of the drop from $2,140 to $1,965. A clear break above $2,050 could push the price toward $2,085. If it breaks above $2,085, more gains could follow, possibly sending Ether to $2,120 or even $2,150 in the near term.
More downside for ETH? If Ethereum can’t break above $2,050, it might start falling again. The first support is near $1,980, followed by $1,965. A clear drop below $1,965 could push the price to $1,920. Further losses might take it to $1,850, with the main support at $1,780.
Technical Indicators:
– Hourly MACD: The MACD for ETH/USD is gaining bearish momentum.
– Hourly RSI: The RSI for ETH/USD is now below 50.
– Major Support Level: $1,980
– Major Resistance Level: $2,050
Frequently Asked Questions
Here is a list of FAQs addressing the possibility that Ethereums price drop might not be finished
BeginnerLevel Questions
1 I keep hearing Ethereum might drop more Is this a sure thing
No its not a sure thing No one can predict the future price This is a warning that the current trend or market conditions suggest losses could continue but prices could also stabilize or rebound
2 What does more losses could be ahead actually mean
It means the price hasnt found a stable bottom yet There is a risk that the current downward momentum will push the price lower than it is today before it eventually recovers
3 Why would the price keep dropping if its already down so much
Prices can keep dropping due to panic selling bad news or a bear market where investors are generally pessimistic Sometimes a price drop scares more people into selling creating a cycle that pushes the price even lower
4 Should I sell my Ethereum right now to avoid more losses
Thats a personal decision Selling now locks in your losses If you believe the price will drop more selling can limit further damage If you believe it will recover holding might be better Never invest more than you can afford to lose
5 Is this drop just about Ethereum or is it the whole crypto market
Its usually the whole market When Bitcoin drops most major cryptocurrencies like Ethereum drop too However sometimes Ethereum has unique problems that can make it fall harder than others
6 How low could Ethereum go Is there a bottom price
No one knows the exact bottom Some analysts look at past support levels or onchain data to guess but these are just estimates The bottom is only known after the price starts going back up
AdvancedLevel Questions
7 What are the key technical indicators that suggest more losses are likely
Traders look for
Lower highs and lower lows
Break below major support levels
High trading volume on red days