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Ethereum ETH $2,472.62 Ethereum 2.26% Market capitalization $298.4 billion VOL. 24 hours $0.58 billion came under pressure as the altcoin dropped to $ 2,600. Despite recent attempts to rise above $ 2,650, the cryptocurrency failed to overcome key resistance levels and remains at risk of further decline. If bearish pressure intensifies, Ethereum could fall to $ 2,500 or even lower.
The recent decline in ETH began after a failed attempt to gain a foothold above $ 2,800. The coin dropped below $ 2,750 and $ 2,720, and also broke through the upward trend line at $ 2,680, indicating an increase in seller activity. Ethereum is currently trading below the 100-hour simple moving average, which further confirms the bearish scenario.
The chart shows that Ethereum is currently receiving support around $ 2,655. If this mark does not hold, the next important level will be the $ 2,615 area. A breakout of this level could trigger a further drop to $ 2,550, and in the event of a stronger decline, the price could reach $ 2,500 or even $ 2,440.
To change the situation, Ethereum needs to return above $ 2,680, and the main resistance level remains at $ 2,720. A breakout above $ 2,800 will open the way to $ 2,880, and further growth could push the price to the psychologically important $ 3,000 mark.
Technical indicators show that bearish sentiment is dominant: The MACD for ETH/USD is in the red zone, and the RSI has dropped below 50, indicating that buyers are weakening. The coming days will be crucial: if Ethereum fails to recover, the market could see further declines.