Ethereum’s Dance with Resistance: Bulls Frolic, Bears Frown! 🐂😱

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Ah, the capricious nature of Ethereum! Like a reluctant suitor, it failed to break through the $3,160 barrier and has now taken a dramatic dip. Fear not, dear readers, for our beloved ETH is merely consolidating, perhaps plotting yet another audacious attempt to charm its way past the illustrious $3,200 mark!

  • Ethereum, in a fit of modesty, began a downward correction, slipping below both $3,180 and $3,150-how very humble of it!
  • The price now languishes beneath $3,120, a shadow of its former glory, and the 100-hourly Simple Moving Average looks on in dismay.
  • But wait! A key bullish trend line emerges like a knight in shining armor, offering support at the noble $3,085 as depicted on the hourly chart of ETH/USD (data graciously provided by the ever-reliable Kraken).
  • If our gallant pair can hold its ground above the $3,080 zone, who knows what heights it may reach?

The Great Ethereum Consolidation: A Comedy of Errors

In a tragicomic twist, Ethereum stumbled at the gates of $3,150, trimming its gains much like a careless barber at a royal salon. Alas, it has dipped below $3,120, entering a realm most bearish indeed.

The last notable low was established at a rather unremarkable $3,050 before embarking on this riveting consolidation saga. There was, however, a fleeting joy above $3,130, brushing against the 23.6% Fib retracement level, a captivating tale of highs and lows spanning from the grandiose $3,308 to the humble $3,050.

Yet, the bears remain vigilant near $3,150 and $3,180, eyeing their prey as Ethereum now trades below $3,120, sighing under the weight of the 100-hourly Simple Moving Average. Lo and behold, that auspicious trend line holds strong at $3,085.

If the bulls can stave off further losses beneath $3,080, we may witness yet another attempt at ascendancy. Resistance looms near the enchanting $3,120 mark, with aspirations reaching for $3,180 and the coveted 50% Fib retracement level of the recent decline.

The next formidable challenge awaits at the illustrious $3,200 level. Should it triumph over this hurdle, we might see the price gallivant towards the opulent $3,265. An upward romp beyond $3,265 could herald even more splendid gains in the coming days, with Ether soaring toward the tantalizing realms of $3,320 or even $3,350!

Will Ethereum Take a Tumble? A Dastardly Dilemma

A decisive plunge below the hallowed $3,050 could usher Ethereum into the depths of despair, careening towards the $3,000 support. And should misfortune continue to strike, we may find ourselves lamenting losses in the $2,925 territory.

As for our technical indicators:

Hourly MACD – Our dear MACD for ETH/USD seems to be losing its bullish luster, a tragic turn of events.

Hourly RSI – The RSI for ETH/USD has sunk below the fabled 50 mark, leaving us to ponder the whims of fate.

Major Support Level – $3,080

Major Resistance Level – $3,150

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2026-01-13 06:32