{"id":76483,"date":"2025-06-27T03:08:18","date_gmt":"2025-06-27T03:08:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=76483"},"modified":"2025-06-27T03:08:18","modified_gmt":"2025-06-27T03:08:18","slug":"ethereum-price-action-turns-bearish-risk-of-near-term-correction","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=76483","title":{"rendered":"Ethereum Price Action Turns Bearish \u2014 Risk of Near-Term Correction"},"content":{"rendered":"

Ethereum price started a fresh increase above the $2,450 zone. ETH is now correcting gains from $2,520 and might slip to test the $2,320 zone.<\/em><\/p>\n

Ethereum started a fresh upward move above the $2,350 level.
\nThe price is trading above $2,400 and the 100-hourly Simple Moving Average.
\nThere was a break below a connecting bullish trend line with support at $2,450 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it remains stable above the $2,320 zone in the near term.<\/p>\n

Ethereum Price Dips Below Support<\/h2>\n

Ethereum price started a fresh increase above the $2,320 support level, like Bitcoin<\/a>. ETH price was able to clear the $2,350 and $2,450 resistance levels to move into a positive zone.<\/p>\n

The bulls even pushed the price above the 76.4% Fib retracement level of the downward move from the $2,569 swing high to the $2,115 low. However, the bulls were active above the $2,500 level. A high was formed at $2,520 and the price is now correcting some gains<\/a>.<\/p>\n

There was a move below the 23.6% Fib retracement level of the upward move from the $2,114 swing low to the $2,520 high. Besides, there was a break below a connecting bullish trend line with support at $2,450 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum price is now trading above $2,400 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $2,500 level. The next key resistance is near the $2,520 level.<\/p>\n

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

The first major resistance is near the $2,550 level. A clear move above the $2,550 resistance might send the price toward the $2,600 resistance. An upside break above the $2,600 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,720 resistance zone or even $2,800 in the near term.<\/p>\n

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

If Ethereum fails to clear the $2,520 resistance, it could start a fresh decline. Initial support on the downside is near the $2,400 level. The first major support sits near the $2,320 zone.<\/p>\n

A clear move below the $2,320 support might push the price toward the $2,250 support. Any more losses might send the price toward the $2,200 support level in the near term. The next key support sits at $2,150.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $2,320<\/p>\n

Major Resistance Level \u2013 $2,520<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh increase above the $2,450 zone. ETH is now correcting gains from $2,520 and might slip to test the $2,320 zone. Ethereum started a fresh upward move above the $2,350 level. The price is trading above $2,400 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish […]<\/p>\n","protected":false},"author":0,"featured_media":76484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-76483","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\/76483"}],"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=76483"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/76483\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/76484"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=76483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=76483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=76483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}