Ethereum’s Price Plays The Fool: A $3K Resistance Drama Unfolds

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Ethereum’s price, ever the tragicomedian, stumbled toward the $2,800 zone before reconsidering its life choices. Perhaps it will now ascend to greener $$, should it manage to conquer the trivial $2,960 obstacle.

  • Ethereum resides in a bearish no-man’s-land below $2,960, where hope is a currency not traded.
  • Its price, with all the vigor of a Victorian ghost, hovers just above $2,900, defying gravity (and sentiment).
  • A fleeting break above a bearish trend line at $2,910-tragically ephemeral-was whispered about in online forums.
  • Should ETH/USD maintain a presence above $2,880, it might, perhaps, “consider” a rally. The audacity.

Ethereum’s price, like a poorly written sonnet, failed to clasp $2,920’s elegance and tumbled sideways into the abyss. Bitcoin wept, and Ether followed suit, descending beneath $2,860 as if choreographed by the grim reaper. A brief flirtation with $2,780 ensued, the kind of self-destruction one might expect from a byronic hero.

Yet, lo! The price mustered a recovery, like a marionette yanked upward by unseen hands, breaching the $2,880 resistance. It conquered the 50% Fib retracement of a tawdry downward swing from $3,066 to $2,784. Bravo, if one must applaud.

On the hourly chart, a bullion of bears were bested at the $2,910 line. ETH now clings to $2,900 like a drunkard to a lamppost. The 100-hour SMA is smiling, we presume.

If bulls endure the $2,850 bloodletting (a mere 20 pips), perhaps Ethereum will gift us another rally. The next stop? The illustrious $2,960, where Fibonacci’s 61.8% will demand a toll. Beyond lies $3,000, a summit of ambition that even the most bullish optimist would call optimistic sparring.

The $3,000 resistance looms like a polite executioner. Should ETH/USD breach $3,020 (a figure so trivial it could be a typo), it might yet scale $3,065 and beyond-like a hamlet of technical analysts dreaming in gold.

Alternatively, should $2,960 become the Rubicon not crossed…

If Ethereum’s price, like a sylphic Victorian heroine, refuses to clear $2,960, it will descend into a Gothic spiral. The $2,880 level guards the gates of despair, while $2,840 stares back with soulless inevitability.

A descent below $2,840 will summon the specter of $2,800, the $2,765 void, and the grim embrace of $2,720. All hail the main support level.

Technical Indicators

Hourly MACD – This MACD, having summoned a Gothic crescendo, now hums in the bullish void, like a jazz band competing with a dirge.

Hourly RSI – RSI, once a somber poet, now resides above 50, whispering of timid resurrections.

Major Support Level – $2,840

Major Resistance Level – $2,960

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2026-01-27 06:40