Home Cryptocurrency Ethereum price analysis: Ethereum breaks below ascending support, further downside to $2,500 today?

Ethereum price analysis: Ethereum breaks below ascending support, further downside to $2,500 today?

by Serge Shlykov

In the last week, Ethereum has been in a vicious downward correction from its recent high of $475. It has dropped to the $350-$400 range, where it remains for the moment.  However, it remains to be seen if this downward slide will continue, or if it is a mean reversion that can be easily justified by the overall strength of the cryptocurrency market.

The past week has been a rocky one for Ethereum. As Bitcoin remains the king, the Ethereum price has been eating away at the public’s interest in its project. Despite the continuous drop in prices, Ethereum has begun to once again show signs of stability and resilience.

After testing resistance at $2,640, ETH fell below support at $2,500, which it failed to hold. ETH/USD is now trading down more than 20% on the day.. Read more about ethereum technical analysis today and let us know what you think.

Summary of the situation

  • ETH is not going up.
  • Another downward spiral during the night.
  • Slight support in the $2600 area is still in place.

Ethereum price analysis indicates bearish momentum in the next 24 hours. After another failed attempt to rise, the ETH/USD fell again yesterday and found support at $2,600. Therefore, we expect a further decline in the next 24 hours with initial support around $2,500. Crypto-currency heat map. Source: Coin360 Overall, the market has seen mixed results over the past 24 hours. Bitcoin remains relatively stable, while Ethereum is up 2%. The rest of the altcoin markets follow this pattern – either small losses or gains. ETH/USD opened at $2.629 after yesterday’s bearish close. Since then, the market has made another small upward move and appears to have established a lower local high. Therefore, we can expect further downward pressure in the next 24 hours.

Ethereum price movement in the last 24 hours

ETH/USD was trading in a range of $2,558 to $2,743, indicating moderate volatility. Trading volume over the past 24 hours remained relatively unchanged at $29.8 billion. Meanwhile, the company has a total market value of $313.2 billion, giving it a market dominance of 19.15%.

4-Hour ETH/USD chart – is another downward move coming?

On the 4-hour chart, we can see that the ETH/USD has set another lower high and is getting ready to drop back. 4 hours chart ETH/USD. Source: TradingView Ethereum price analysis: Ethereum breaks below ascending support, further downside to $2,500 today? Ethereum’s global price action model indicates a slowdown in momentum over the past few days. After falling more than 60% last month, Ethereum found support at $1,725 and moved higher in the following days, suggesting the bears have run wild and a reversal is expected. Last week ETH/USD pulled back and established a higher low at $2,200, which is another indication that the bulls are taking over. However, after several days of rise, Ethereum met resistance again around the $2,900 mark. The market set a lower local high yesterday and broke the uptrend support line. Therefore, we expect ETH/USD to follow a lower trend in the coming week and aim for a new higher bottom. Most likely, the $2500 support level will be broken first, as it is relatively close to the current price action. Overall, this is a very bearish sign, although barring a further drop below $2,200 support, we should remain bullish in the week ahead.

Ethereum Price Analysis: Supplement

Ethereum’s price analysis is bearish as the market is currently trying to establish a new lower local high, indicating bearish momentum in recent days. Therefore, we expect ETH/USD to aim for support at $2,500. In anticipation of another Ethereum price spike, read our guides on how to buy Cardano, mine Zcash and how many bitcoins are left to mine. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.In this post, we will discuss about the Ethereum price analysis, and we will also talk about the other altcoins that are in the market. Ethereum is getting the support level of $2,500, and it is slowly seen a momentum towards that price. We recommend shorting Ethereum at the current price and stop loss of $2,500.. Read more about ethereum price prediction 2025 and let us know what you think.

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