Ethereum’s Descent: A Symphony of Sorrow 🚀💸

by

The golden beast of Ethereum, once heralded as a savior of the digital realm, now stumbles in the shadows of $3,850, its roar reduced to a whimper. The market, a fickle mistress, has turned her back, dragging ETH below $3,800 like a drunkard clinging to a lamppost. If the cursed $3,680 threshold falls, even the bravest of crypto knights may flee.

  • Ethereum’s latest misadventure began when it failed to conquer the mythical $3,920 peak-a height once deemed the Promised Land by delusional investors.
  • The price, now trapped beneath $3,800 and the 100-hourly SMA, resembles a frog in a well, staring at a shrinking sky.
  • A break below the rising channel’s support at $3,840 (per Kraken’s watchful eye) signals a descent into the abyss, where hope drowns in liquidity.
  • If $3,680 crumbles, ETH may join the pantheon of forgotten altcoins, whispering tales of hubris to the moon.

In a world where optimism is a sin, Ethereum’s price has returned to its natural habitat: the bearish zone. Like Bitcoin’s tragic twin, it now limps below $3,880, clutching Fibonacci retracements like a drowning man clutches driftwood. The 61.8% Fib level, once a beacon, now mocks with its indifference. Even the hourly chart’s rising channel has betrayed it, spilling secrets to short-sellers.

ETH now trades beneath $3,800 and the 100-hourly SMA, a price action as dreary as a tax audit. The 76.4% Fib retracement looms like a guillotine, ready to sever dreams of glory. Resistance? The $3,840 fortress, manned by grumpy technical analysts armed with stop-loss orders.

Should Ethereum muster the strength to reclaim $3,920, the road ahead is paved with greed and groupthink. $4,000 awaits, a mirage for the gullible, while $4,120 and $4,200 loom like promises made during a hangover. But remember: every rally is a trap, and every peak is a cliff.

If ETH falters at $3,840, brace for a descent into the underworld. The $3,680 support is but a stepping stone to $3,650, then $3,550, where even the most ardent HODLers will sell their souls for a slice of pizza. The $3,450-$3,440 range? A cryptic joke only the market gods understand.

Technical Indicators

Hourly MACD – A bearish waltz, each bar a dirge for lost investments.

Hourly RSI – Below 50, where the air is thick with despair and the silence screams.

Major Support Level – $3,680: The last stand of the crypto crusaders.

Major Resistance Level – $3,840: A gate guarded by the ghosts of bullish tweets past.

Read More

2025-11-03 07:55