Ethereum’s Wild Ride 🎢: Hold On Tight or Get Wrecked! 🤪

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The winds of fortune shift like a drunken sailor on Ethereum’s deck. Ethereum, that digital ghost ship, has been sinking below the $4,650 mark, and now it’s flirting with the $4,340 abyss. The bears are circling, waiting to pounce, and the bulls? Well, they’re just trying to stay afloat. 🐻🐂

  • Ethereum’s still stuck in the mud, struggling to crawl above $4,500.
  • The price is drowning below $4,500, and the 100-hourly Simple Moving Average is just laughing at it.
  • There’s a bearish trendline lurking like a bad omen at $4,460 on the ETH/USD chart (courtesy of Kraken).
  • If Ethereum slips below $4,340, it might just freefall into oblivion. Or, you know, $4,260.

Ethereum’s Rollercoaster Ride

Ethereum tried to pull itself up by its bootstraps after dipping to $4,260, mimicking Bitcoin’s desperate flailing. It managed to claw past $4,320 and $4,350, but the bulls’ victory dance was short-lived. 🕺

It even hit the 50% Fib retracement level from the $4,660 high to the $4,261 low. But the $4,480 resistance smacked it back down. Two attempts, two failures. The bulls look like they’ve been hitting the hay instead of the gas. 🌾

The 61.8% Fib retracement level is now standing guard like a bouncer at a club, refusing entry. Ethereum’s price took a nosedive below $4,450, and now it’s trading below the 100-hourly Simple Moving Average. The bearish trendline at $4,460 is just icing on this disaster cake. 🎂

On the upside, $4,450 is the first hurdle. Then comes $4,480, and finally, the big boss at $4,500. If Ethereum can somehow clear that, it might rally to $4,565, or even $4,650 in a fairy tale ending. 🧚‍♂️

A clean break above $4,500 could send Ethereum soaring toward $4,565, and maybe even $4,720 if it’s feeling frisky. But don’t hold your breath. 🎈

Will Ethereum Keep Falling?

If Ethereum can’t muscle past $4,500, it’s likely to keep sliding down. The first pit stop is $4,375, followed by $4,340. If it crashes through $4,340, expect a tumble to $4,320, and then $4,260. And if things really go south, $4,150 is waiting with open arms. 💔

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining steam in the bearish zone. 🚂

Hourly RSI – The RSI for ETH/USD is now sulking below the 50 zone. 😢

Major Support Level – $4,340

Major Resistance Level – $4,500

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2025-09-01 06:29