{"id":47451,"date":"2025-02-25T03:18:46","date_gmt":"2025-02-25T03:18:46","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=47451"},"modified":"2025-02-25T03:18:46","modified_gmt":"2025-02-25T03:18:46","slug":"ethereum-price-sinks-10-is-this-a-buying-opportunity","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=47451","title":{"rendered":"Ethereum Price Sinks 10% \u2013 Is This a Buying Opportunity?"},"content":{"rendered":"

Ethereum price started a fresh decline from the $2,850 resistance zone. ETH is down over 10% and is struggling to stay above the $2,500 level.<\/em><\/p>\n

Ethereum is facing an increase in selling below the $2,650 zone.
\nThe price is trading below $2,750 and the 100-hourly Simple Moving Average.
\nThere is a short-term bearish trend line forming with resistance at $2,600 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent upward move if it settles above $2,600 and $2,650.<\/p>\n

Ethereum Price Takes A Hit<\/h2>\n

Ethereum price failed to clear the $2,850 resistance zone and started a fresh decline, like Bitcoin<\/a>. ETH gained pace below the $2,720 and $2,650 support levels to enter a bearish zone.<\/p>\n

The price declined over 10% and even declined below the $2,550 support zone. A low was formed at $2,458 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $2,854 swing high to the $2,458 low.<\/p>\n

Ethereum price is now trading below $2,600 and the 100-hourly Simple Moving Average<\/a>. There is also a short-term bearish trend line forming with resistance at $2,600 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,550 level. The first major resistance is near the $2,600 level. The main resistance is now forming near $2,650 or the 50% Fib retracement level of the downward move from the $2,854 swing high to the $2,458 low.<\/p>\n

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

A clear move above the $2,650 resistance might send the price toward the $2,750 resistance. An upside break above the $2,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,850 resistance zone or even $2,920 in the near term.<\/p>\n

More Losses 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 $2,550 level. The first major support sits near the $2,450 zone.<\/p>\n

A clear move below the $2,450 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 $2,450<\/p>\n

Major Resistance Level \u2013 $2,650<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh decline from the $2,850 resistance zone. ETH is down over 10% and is struggling to stay above the $2,500 level. Ethereum is facing an increase in selling below the $2,650 zone. The price is trading below $2,750 and the 100-hourly Simple Moving Average. There is a short-term bearish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":47452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-47451","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\/47451"}],"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=47451"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/47451\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/47452"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}