Snapshot: Ethereum slips under $1,750 as bears keep control
Ethereum has resumed its downtrend, slipping below key levels and consolidating under $1,750 on the hourly chart (ETH/USD, Kraken). The recent pullback follows a failure to hold above $1,840 and mirrors weakness seen across the broader crypto market, including Bitcoin.
What happened
- ETH broke beneath $1,800 and $1,780 and printed a low at $1,715. The pair is now consolidating below the 23.6% Fibonacci retracement of the drop from the $1,888 swing high to the $1,715 low.
- Price is trading under the 100-hour Simple Moving Average and a bearish trend line that currently offers resistance around $1,750.
Key resistance levels to watch
- Near-term resistance: $1,750 (trend line) and $1,800 (also the 50% Fib of the $1,888→$1,715 move).
- Immediate strong resistance: $1,820. A clear break above $1,820 could open the door toward $1,880, with a further upside scenario reaching $1,920–$1,965 if momentum strengthens.
Downside risks
- If ETH fails to reclaim the $1,880 zone and selling resumes, initial support sits at the recent low of $1,715.
- Larger supports: $1,680, then $1,650 and $1,625, with the main support cited around $1,600. A decisive drop below these levels would deepen the bearish outlook.
Technical tone
- Hourly MACD shows growing bearish momentum.
- Hourly RSI is below 50, reinforcing the short-term downside bias.
Outlook
- Short-term bias stays bearish while price trades below the $1,820–$1,880 resistance area and the 100-hour SMA. Bulls would need to reclaim and hold levels above $1,820 (ideally moving past $1,880) to shift momentum. Conversely, failure to defend $1,700–$1,715 could accelerate losses toward the lower support zones.
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