Darling, Ethereum has taken a tumble, hasn’t it? Below $3,750, no less! And now, the poor dear is flirting with $3,550-a support level that’s looking rather frayed at the edges. 🕳️💸
- Our dear Ethereum couldn’t quite muster the charm to clear $3,880, and now it’s in a spot of bother. 🥴
- Trading below $3,700 and the 100-hourly Simple Moving Average-how très tragic. 📉
- A contracting triangle is forming, with resistance at $3,650 on the hourly chart of ETH/USD (courtesy of Kraken, of course). 📐✨
- If it dips below $3,550, well, let’s just say the champagne will be on ice for a while longer. 🥂❄️
Ethereum’s Descent into Drama
Ah, Ethereum, once so buoyant, now languishing below $3,880-just like its cousin Bitcoin. Below $3,800, below $3,750-it’s all rather dreary, isn’t it? 🌧️💔
The decline picked up pace below $3,650, but fear not! The bulls made an appearance near $3,550. A low of $3,557, and now it’s consolidating losses near the 23.6% Fib retracement level. How utterly tedious. 😒📊
Trading below $3,800 and the 100-hourly Simple Moving Average, Ethereum is in dire need of a revival. If it attempts a recovery, $3,650 will likely prove a stubborn resistance. And that contracting triangle? Still there, still resisting. 📉🔒
Next up, $3,740 and the 50% Fib retracement level-a hurdle, no doubt. $3,800? The first major resistance. A break above $3,880 might spark some excitement, but let’s not get ahead of ourselves. $4,000? $4,050? Darling, one step at a time. 🚀💭
More Woes for ETH?
If Ethereum can’t muster the gumption to clear $3,800, it’s back to the drawing board. Initial support at $3,580, with the first major support at $3,550. A break below that? Well, $3,500 awaits, and then perhaps $3,420. How utterly dreary. 😩📉
Technical Indicators, you say?
Hourly MACD – Gaining momentum in the bearish zone. How predictable. 🐻⬇️
Hourly RSI – Below 50. Hardly a surprise, is it? 📉
Major Support Level – $3,550. Clinging on for dear life. 🛟
Major Resistance Level – $3,800. A mountain to climb. ⛰️
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2025-11-04 06:24