Ethereum Price Takes a Nosedive — Is $2,550 the New Safety Net?

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And so it begins again, dear readers. Ethereum, that ever-fluctuating crypto beast, has decided to take a little tumble. From the lofty $2,780 resistance zone, it seems ETH is now caught in a downward spiral, flirting dangerously close to $2,650. Could this be the start of a dramatic fall? Only time will tell…

  • Once again, Ethereum stumbles below the $2,700 mark. Oh, how the mighty have fallen.
  • At present, ETH is slinking under $2,650, far from the reassuring embrace of the 100-hourly Simple Moving Average. Not looking good.
  • Behold! A trend line, once bullish, has been utterly shattered. Support at $2,625, gone in an instant. (Data feed courtesy of Kraken, for those keeping track.)
  • Hold on to your wallets! If Ethereum dips below the $2,550 support, the slide may just continue. Buckle up, folks!

Ethereum’s Descent Continues

Ethereum was doing fine, dear friends. Really, it was. It had been playing catch-up with Bitcoin, creeping back from the $2,550 support zone, reclaiming some dignity by rising above $2,650 and $2,750. But alas, the bears showed up and everything came crashing down.

Oh, but wait! A high of $2,787 was reached, only to be swiftly followed by a retreat. Down it went, below $2,700—right past the 50% Fibonacci retracement. If the Fibonacci gods are angry, they sure have a funny way of showing it.

Now, Ethereum languishes beneath $2,650, forsaking its 100-hourly Simple Moving Average. It’s as if the trend lines themselves are laughing at our misfortune. Woe to those who dream of an upside breakout!

But fear not, dear investor. The potential for a rebound exists, should Ethereum conquer the $2,625 level once again. Above that, we might even see a push toward $2,720 and beyond. Dare we dream of a return to $2,780?

And yet… If Ethereum does manage to break above $2,780, we could be looking at a meteoric rise toward $2,880 or even $2,950. Will the stars align, or is this just another cruel joke?

Could the Slide Continue?

But what if it doesn’t? What if Ethereum fails to break through the $2,650 resistance? Well, brace yourselves for a potential plunge. The first line of defense sits at $2,600, followed by the all-important $2,550 zone. It’s here where the 76.4% Fibonacci retracement could step in… if it feels like it.

If that support crumbles, the next stop could be $2,500. And if we’re truly unfortunate, the dreaded $2,440 level might make its appearance. Who knows how far Ethereum might go before we hit bottom?

Technical Indicators

Hourly MACD – Alas, the MACD for ETH/USD is gaining momentum in the bearish zone. Not exactly a green flag.

Hourly RSI – The RSI for ETH/USD is firmly below the 50 zone. Nothing says “suspicious” like an RSI hanging out in the depths of despair.

Major Support Level – $2,550

Major Resistance Level – $2,650

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2025-05-30 05:12