Ethereum slipped into fresh weakness, sliding below key thresholds and settling under $1,750 as sellers regained control.
Quick take
- ETH fell through $1,840, then $1,800 and $1,780, briefly trading as low as $1,715 (Kraken data) before consolidating below $1,750.
- The move leaves Ether trading under the 100-hour Simple Moving Average and beneath a bearish hourly trend line with resistance near $1,750.
- The decline followed a broader risk-off leg that also hit Bitcoin.
What traders are watching
- Resistance: $1,750 (near-term trend-line), $1,800 (50% Fib of the $1,888→$1,715 drop), $1,820, and a key barrier at $1,880. A clean break above $1,880 could open a run toward $1,920–$1,965.
- Support: immediate support at the $1,715 low, then $1,680 as the next major floor. Below that sits $1,650, $1,625 and a more significant support zone around $1,600.
Scenarios to consider
- Bull case: If bulls defend $1,700 and push ETH above $1,820, momentum could pick up toward $1,880 and higher resistance bands.
- Bear case: Failure to reclaim $1,820/$1,880 keeps pressure on the downside; a decisive break under $1,680 would likely expose the $1,650–$1,600 area.
Technical snapshot (hourly)
- MACD: Bearish momentum is increasing.
- RSI: Below 50, signaling the short-term bias favors sellers.
- Price action: Consolidation beneath the 23.6% Fib retracement of the $1,888→$1,715 drop, reinforcing the bearish near-term tilt.
Bottom line
Ethereum remains in a short-term downtrend. Traders will be watching whether buyers can reclaim the $1,750–$1,820 zone to shift momentum, or if sellers push ETH toward the lower support clusters around $1,680–$1,600.
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