{"id":41121,"date":"2025-02-03T03:28:24","date_gmt":"2025-02-03T03:28:24","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=41121"},"modified":"2025-02-03T03:28:24","modified_gmt":"2025-02-03T03:28:24","slug":"ethereum-price-tanks-25-whats-next-after-the-major-decline","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=41121","title":{"rendered":"Ethereum Price Tanks 25%: What\u2019s Next After the Major Decline?"},"content":{"rendered":"

Ethereum price started a fresh decline below the $3,000 zone. ETH is down over 25% and the bears seem to be in control below $2,770.<\/em><\/p>\n

Ethereum started a fresh decline below the $3,000 support zone.
\nThe price is trading below $2,800 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance at $2,900 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a recovery wave if it stays above the $2,200 level.<\/p>\n

Ethereum Price Nosedives<\/h2>\n

Ethereum price started a major decline below the $3,000 level, underperforming Bitcoin<\/a>. ETH declined below the $2,800 and $2,650 levels to enter a bearish zone.<\/p>\n

There was a clear move below the $2,500 level. The price declined over 25% and tested the $2,120 zone. A low was formed at $2,127 and the price is now consolidating losses. There was a minor increase above the $2,300 level. The price surpassed the 23.6% Fib retracement level of the downward move from the $3,403 wing high to the $2,127 swing low.<\/p>\n

Ethereum price is now trading below $2,800 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price seems to be facing hurdles near the $2,650 level. The first major resistance is near the $2,770 level or the 50% Fib retracement level of the downward move from the $3,403 wing high to the $2,127 swing low.<\/p>\n

The main resistance is now forming near $2,900. There is also a key bearish trend line forming with resistance at $2,900 on the hourly chart of ETH\/USD. A clear move above the $2,900 resistance might send the price toward the $3,000 resistance.<\/p>\n

<\/a><\/p>\n

An upside break above the $3,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,150 resistance zone or even $3,250 in the near term.<\/p>\n

Another Drop In ETH?<\/h2>\n

If Ethereum fails to clear the $2,600 resistance, it could start another decline. Initial support on the downside is near the $2,320 level. The first major support sits near the $2,250.<\/p>\n

A clear move below the $2,250 support might push the price toward the $2,120 support. Any more losses might send the price toward the $2,000 support level in the near term. The next key support sits at $1,880.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n

Major Support Level \u2013 $2,200<\/p>\n

Major Resistance Level \u2013 $2,600<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh decline below the $3,000 zone. ETH is down over 25% and the bears seem to be in control below $2,770. Ethereum started a fresh decline below the $3,000 support zone. The price is trading below $2,800 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":41122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41121"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41121"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/41122"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}