Ethereum price has taken a dramatic dive below $3,550, leaving investors wondering if the market is trying to communicate a message from the other side of the universe. 🌌💸
- Ethereum launched another bearish wave after failing to conquer the elusive $3,650 summit, which is now as attainable as a unicorn on a unicycle. 🦄🌀
- The price is trading below $3,500 and the 100-hourly Simple Moving Average, which is about as thrilling as watching a sloth juggle bowling balls. 🐢🌀
- A bearish trend line is forming with resistance at $3,450, because nothing says “optimism” like a line that’s clearly plotting your downfall. 📉📉
- The pair could continue to move down if it trades below $3,200, which is like betting on a roulette wheel that’s been tampered with by a grumpy alien. 🛸👽
Ethereum Price Dips Sharply
Ethereum price failed to stay in a positive zone and started a fresh decline below $3,550, like Bitcoin. ETH price declined below $3,500 and $3,450 to enter a bearish zone, which is basically the financial equivalent of a toddler’s temper tantrum. 😭💸
The decline gained pace below $3,350. Finally, the bulls appeared near $3,050. A low was formed at $3,058 and the price is now consolidating losses, because nothing says “recovery” like a 10% drop followed by a yawn. 🤯💤
Ethereum price is now trading below $3,400 and the 100-hourly Simple Moving Average. If there is a decent increase, the price could face resistance near the $3,350 level, which is about as reliable as a GPS in a library. 🗺️🌀
The first major resistance is near the $3,500 level. A clear move above the $3,500 resistance might send the price toward the $3,550 resistance, which is like trying to climb a mountain made of jelly. 🍯⛰️
More Losses In ETH?
If Ethereum fails to clear the $3,500 resistance, it could start a fresh decline. Initial support on the downside is near the $3,250 level, which is as comforting as a blanket made of ice. ❄️🧣
A clear move below the $3,200 support might push the price toward the $3,120 support, because nothing says “hope” like a series of increasingly desperate numbers. 💸📉
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone, which is about as exciting as watching paint dry… but with more numbers. 🎨📉
Hourly RSI – The RSI for ETH/USD is now below the 50 zone, which is like a toddler’s mood swing but with graphs. 😢📊
Major Support Level – $3,200
Major Resistance Level – $3,500
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2025-11-05 06:43