ETH Price Plummets: Is $4,200 the Bottom? 😱

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Ah, Ethereum. Or, as I prefer to call it, the digital reflection of human folly. It began, you see, a rather decided descent – a correction, the analysts murmur, as if the market is a misbehaving student needing discipline. Below $4,550, naturally. One expects such things. It’s not as if anyone anticipated stability, is it? 🙄

  • The wretched thing tumbled, below $4,550 and even, good heavens, $4,420. A veritable avalanche of digital disappointment.
  • Trading below $4,450 now! As if anyone truly expected it to *maintain* a respectable altitude. And, wouldn’t you know it, below that… the 100-hourly Simple Moving Average. Complicated terminology for a predictable outcome.
  • Observe! A bearish trend line, forming like a sinister smile on the hourly chart. Resistance at $4,450. Oh, the irony.
  • Should it succumb to the inevitable and drop below $4,200, well… don’t say I didn’t warn you. Though, frankly, you’d have to be living under a rock to be surprised.

A Dip, A Wobble, and a General Sense of Malaise

It failed, of course, to recover. Ethereum, mirroring the lamentable Bitcoin, embarked on a fresh downfall beneath $4,650. Bearish momentum, they call it. I call it the natural order of things. It traded, rather sulkily, below $4,450.

The bears, those relentless creatures, pushed it further, below $4,350. A brief flirtation with $4,220, a low formed at $4,228, then a pathetic attempt at recovery. A 23.6% Fib retracement! Such precision in absurdity. It’s… almost beautiful.

Now it lingers below $4,450 and that infernal 100-hourly average. Resistance near $4,375, naturally. Then $4,400. The 50% Fib retracement, a meaningless calculation masking the chaos. Oh, the futility of it all!

The first major resistance? $4,450. That bothersome trend line looms still. A clear break above? Don’t hold your breath. It might, might, reach $4,550. Or perhaps not. 🤷‍♀️

And if it does, some analysts will claim victory. Ether could ascend to $4,650 or even, dare we dream, $4,720. Though one suspects gravity will reassert itself eventually.

More Misery Anticipated?

Should it fail to overcome $4,400 – and let’s be honest, it likely will – the downward spiral shall continue. Support at $4,220, and then, the dreaded $4,200.

Below $4,200? Oh my. $4,150 beckons. Further losses could lead to $4,050. And, if the abyss truly opens, $4,000. Such numbers! So… dramatic.

Technical Indicators – Or, as I prefer, the modern equivalent of tea leaves.

Hourly MACD – Gaining momentum in the bearish zone. How… astonishing.

Hourly RSI – Below 50. A revelation! 🧐

Major Support Level – $4,200

Major Resistance Level – $4,400

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2025-08-19 07:22