Ethereum, in its infinite wisdom, chose to waltz into the bearish zone, now clinging to $3,200 like a drunkard to a lamppost. A most thrilling descent, if one enjoys financial despair.
- ETH executed a sharp downside correction below $3,320, proving gravity applies to crypto too.
- Trading below $3,250 and the 100-hourly SMA-because why not test the patience of saints?
- Broke below a bullish trend line at $3,220, Kraken’s data confirming the chaos.
- If it survives $3,180, perhaps ETH will grace us with a rally. Doubtful, but one can dream.
Ethereum’s price, like a Victorian heroine, failed to hold above $3,300 and plunged into the abyss. It descended below $3,280 and $3,250, embracing the bearish zone with the enthusiasm of a man who just realized he’s out of gin.
A break below $3,220 on the hourly chart was followed by a descent into the 50% Fib retracement, then a valiant (if misguided) test of $3,180. The market now waits with bated breath, clutching its pearls.
Resistance levels loom like a Dickensian ghost: $3,230, $3,250, $3,280. If ETH manages to conquer these, perhaps it’ll ascend to $3,400, or even $3,450-a feat akin to climbing Mount Everest in slippers.
Should Ethereum falter, the $3,200 support awaits, followed by the grim reaper at $3,180, $3,120, and finally, $3,000. A most tragic odyssey.
Technical Indicators
Hourly MACD – The MACD is losing its vigor, much like a Victorian gentleman after a long day of tea and existential dread.
Hourly RSI – The RSI now resides below 50, a place where hope goes to die.
Major Support Level – $3,180 (a last stand worthy of Shakespeare)
Major Resistance Level – $3,280 (a wall of flesh, metaphorically speaking)
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2026-01-19 06:25