Ethereum’s price has dropped again, falling below $1,750. It’s now hovering under that level and could keep declining. After slipping below $1,800, ETH remains in a bearish trend. The price is trading under $1,780 and below the 100-hourly Simple Moving Average. On the hourly chart of ETH/USD (data from Kraken), a bearish trend line is forming with resistance at $1,750. If the price stays below the $1,820 zone, it could continue to fall.
Ethereum Price Stays in a Downtrend
Ethereum couldn’t hold above $1,840 and started dropping again, similar to Bitcoin. The price fell below $1,800 and $1,780, and even dipped under $1,750. It hit a low of $1,715 and is now consolidating those losses, staying well below the 23.6% Fibonacci retracement level of the drop from the $1,888 high to the $1,715 low. There’s also a bearish trend line on the hourly chart with resistance at $1,750.
Ethereum is now trading below $1,750 and the 100-hourly Simple Moving Average. If buyers stay active above $1,700, the price might try to rise again. The first resistance is around $1,750. The next key resistance is near $1,800, which is also the 50% Fibonacci retracement level of the drop from $1,888 to $1,715. After that, major resistance is at $1,820. A clear break above $1,820 could push the price toward $1,880. If it breaks above $1,880, more gains could follow, possibly reaching $1,920 or even $1,965 in the near term.
Could ETH Drop Further?
If Ethereum can’t break above $1,880, it might start declining again. The first support is near $1,715, with the next major support around $1,680. A clear drop below $1,680 could push the price toward $1,650. Further losses might send it to $1,625, with the main support at $1,600.
Technical Indicators
– Hourly MACD: The MACD for ETH/USD is gaining momentum in the bearish zone.
– Hourly RSI: The RSI for ETH/USD is now below 50.
Key Levels
– Major Support: $1,715
– Major Resistance: $1,880
Frequently Asked Questions
Here is a list of FAQs about the possibility of Ethereums price dropping below 1700 written in a natural conversational tone
Beginner Questions
1 Is Ethereums price definitely going to drop below 1700
No nobody can predict the future of crypto prices with certainty The question is about what might happen based on current market trends and technical analysis Its a warning not a guarantee
2 Why would Ethereum drop that low if its such a popular coin
Even popular assets can drop The price is driven by supply and demand market sentiment and broader economic factors like interest rates or stock market performance A drop below 1700 would likely be caused by a mix of selling pressure and negative news
3 If it does drop below 1700 should I sell everything to avoid losing more money
Thats a personal decision but panic selling often locks in losses Many investors see deep drops as buying opportunities A better approach is to stick to a plan you made before the drop based on your own risk tolerance and investment goals
4 Whats the big deal about the 1700 level
1700 is a key support level Think of it like a floor in a building If the price breaks through that floor it could fall further to the next support level Traders watch these levels closely to decide when to buy or sell
Intermediate Advanced Questions
5 What technical indicators are suggesting a drop below 1700
Common signals include a death cross lower highs and lower lows on the price chart and a break below the 200day moving average High trading volume during a price decline also confirms bearish sentiment
6 Could macroeconomic factors like interest rates cause Ethereum to fall below 1700
Absolutely Ethereum like other risk assets often drops when the Federal Reserve raises interest rates or signals a hawkish stance Higher rates make safer investments more attractive pulling money out of crypto A recession or a strong US dollar also pressures crypto prices