Ethereum’s Rollercoaster: Hold on Tight, It’s About to Drop!

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Well, it seems Ethereum has once again decided to take a little stroll down the price lane, but not the one we were all hoping for. After a valiant attempt to rise above $2,000, it’s now teetering on the edge of a financial cliff, threatening to tumble below $1,980 like a toddler at a birthday party who just discovered the cake is gone.

  • Ethereum attempted to flaunt its gains above $2,120 but quickly realized that was a bit ambitious and corrected itself-much like my New Year’s resolutions.
  • The price is now trading below $2,050, making it feel somewhat lonely without the comforting embrace of the 100-hourly Simple Moving Average.
  • A contracting triangle is forming, with resistance at $2,040. You know, just when you thought things couldn’t get any more complicated.
  • If it chooses to continue this downward trend, we might witness a fresh decline. Can you hear the dramatic music playing in the background?

Ethereum Price Takes Another Dive

In an unexpected twist of events, Ethereum managed to establish a base above $1,950 and launched into what can only be described as a recovery wave-kind of like a dolphin trying to leap out of water but landing awkwardly back in.

ETH even spiked above $2,140, creating a high at $2,168 before promptly losing its footing like someone on a slippery dance floor. Now it’s moving lower, having dropped below $2,050 and testing the 38.2% Fib retracement level of its previous glory days.

Currently, Ethereum is trading below $2,050 and the aforementioned moving average, which is probably feeling a bit neglected. If the bulls manage to pull it together above $2,000, we might see another attempt at climbing higher. Immediate resistance appears at the mystical $2,050 mark, while a contracting triangle looms ominously with resistance at $2,040.

The first hurdle? Oh, that would be the $2,065 level. And should it miraculously break above $2,120, we could be on our way to the land of $2,165 and beyond! Perhaps we’ll even catch a glimpse of $2,250 or $2,280 if we’re lucky-but let’s not get ahead of ourselves.

Is Another Drop on the Horizon for ETH?

Now, if Ethereum can’t muster the strength to clear the $2,065 resistance, we may have to brace ourselves for yet another descent into the abyss. Initial support lurks around the $2,000 level, while the first major support is hanging out at $1,950, which is also the 50% Fib retracement level from its earlier escapades.

Should it plummet below $1,950, we might witness the price careening toward $1,900, and heaven forbid, it could even graze the $1,850 mark. The ultimate support could very well be $1,820, which sounds like a lovely place for a price to take a long vacation.

Technical Indicators

Hourly MACD – Looks like the MACD for ETH/USD is gaining momentum in the bearish zone. Not the most encouraging sign!

Hourly RSI – And the RSI for ETH/USD has dipped below the 50 zone, which feels rather ominous.

Major Support Level – $2,000

Major Resistance Level – $2,065

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2026-02-11 07:57