Ethereum, like a stubborn farmhand, struggled to stay over the $4,020 mark before sliding down deeper into the trough. Now it’s squatting in its muddy pen, just waiting for the next gust to blow it under $3,820. Quite the precarious dance!
- Ethereum took a fresh plunge, like a rogue river, cascading below both $4,020 and $4,000, not to mention the 100-hourly moving average path.
- The price found itself perched south of $4,000. Visualize a drawling farmer forming a key bearish line across the chart, hovering at $4,070 on the ethanol-infused ethers of ETH/USD, courtesy of Kraken.
- If our stricken currency drops below the $3,820 ledge, it could keep slipping south as if it sensed a cold brew on tap.
Ethereum’s Dip Below Its Comfort Zone
Not unlike a weary Mule team, Ethereum couldn’t manage to stay on top of the $4,120 ridge and lost most of its gains, just like Bitcoin. The price cascaded below $4,020 and $4,000, even testing the $3,820 depth with a low of $3,828. It’s now trying to drag itself back together.
There was a slight resurgence toward the 23.6% Fib retracement pit stop of the recent slide from $4,215 to $3,828. Right now, Ethereum price is loitering below $4,000 and the 100-hourly moving average. Aym, there’s that key bearish line again with resistance at $4,070 on the swelling ochre banks of the hour chart.
As for the upside, resistance lurks near the $3,950 mark. The next hurdle is at $4,020, coinciding with the 50% Fib retracement level. A real monster of a challenge lies at the $4,070 trend line, full of intention to halt progress.
If Ethereum dares to leap over the $4,070 barrier, it may venture toward $4,120. An undisputed breakout past this region might summon even stronger gains, possibly pushing it toward the $4,220 or $4,250 resistance levels soon.
Will ETH Face Another Downhill Battle?
If Ethereum can’t clear the $4,020 fence, a fresh decline looms. The first refueling station is at $3,880. But should it breach the $3,820 support, expect the dust to kick up all the way to the $3,740 stronghold. Further losses might nudge it toward the $3,650 embrace, leaving further targets like $3,550 aching for its return.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is fanning its bearish flames like a setting sun over a tired prairie.
Hourly RSI – The RSI for ETH/USD clings below the 50 levee, still searching for fertile soil.
Major Support Level – $3,820
Major Resistance Level – $4,070
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2025-10-17 07:20