{"id":43074,"date":"2025-02-10T03:28:38","date_gmt":"2025-02-10T03:28:38","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=43074"},"modified":"2025-02-10T03:28:38","modified_gmt":"2025-02-10T03:28:38","slug":"ethereum-price-declines-again-will-the-downtrend-continue","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=43074","title":{"rendered":"Ethereum Price Declines Again: Will the Downtrend Continue?"},"content":{"rendered":"

Ethereum price failed to continue higher above the $2,880 resistance. ETH is now moving lower and might slip further toward the $2,320 support.<\/em><\/p>\n

Ethereum started a fresh decline below the $2,700 level.
\nThe price is trading below $2,700 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance at $2,680 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh decline if it stays below the $2,700 level.<\/p>\n

Ethereum Price Recovery Fades<\/h2>\n

Ethereum price started a recovery wave<\/a> above the $2,650 level, like Bitcoin<\/a>. ETH was able to surpass the $2,700 and $2,750 resistance levels to move into a short-term positive zone.<\/p>\n

However, the bears were active above $2,800 and the price started another decline. There was a move below the $2,720 and $2,700 levels. The price dipped and tested the 50% Fib retracement level of the upward move from the $2,127 swing low to the $2,923 high.<\/p>\n

Ethereum price is now trading below $2,700 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $2,680 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,680 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,700 level. The main resistance is now forming near $2,880 or $2,920. A clear move above the $2,920 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 $3,050 resistance zone or even $3,120 in the near term.<\/p>\n

More Losses In ETH?<\/h2>\n

If Ethereum fails to clear the $2,700 resistance, it could start another decline. Initial support on the downside is near the $2,525 level. The first major support sits near the $2,440 zone.<\/p>\n

A clear move below the $2,440 support might push the price toward the $2,320 support. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,120.<\/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 $2,525<\/p>\n

Major Resistance Level \u2013 $2,440<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price failed to continue higher above the $2,880 resistance. ETH is now moving lower and might slip further toward the $2,320 support. Ethereum started a fresh decline below the $2,700 level. The price is trading below $2,700 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at […]<\/p>\n","protected":false},"author":0,"featured_media":43075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-43074","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\/43074"}],"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=43074"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/43074\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/43075"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}