Ethereum’s Epic Quest to Defy Gravity and Common Sense

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In a tale as bewildering as a Vogon poetry reading, Ethereum tried to vault the mighty $1,650 barrier but tripped over its own decimal points and nosedived into a consolidation nap near $1,595. Rumor has it ETH might muster some caffeine and try to scamper back above $1,620. 🚀🐢

  • Ethereum started its dive from the $1,650 promontory, proving gravity is undefeated.
  • Currently, it’s trading below $1,600 and the 100-hour Simple Moving Average — which is apparently as intimidating as the Galactic Council.
  • ETH also broke below a short-term contracting triangle, supported at $1,595, leaving mathematicians mildly concerned.
  • If it can somehow clear the $1,620 resistance, it might just surprise us all and continue its uphill battle against entropy.

The Not-So-Brave Little Ethereum Dips Again

Ethereum clung stubbornly above the $1,520 ledge, briefly flirting with heights above $1,600 and $1,620 before the bears — those joyless party-poopers — made a dramatic entrance.

It peaked at a proud $1,655 before surrendering to a fresh pullback, sliding below $1,600 and tumbling through the mysterious “contracting triangle” known only to chart wizards.

It then valiantly tested the $1,565 zone — which sounds like something from a time traveler’s itinerary rather than a price level.

Finding momentary solace at $1,564, Ethereum has since been consolidating near the 23.6% Fibonacci (Fib, not a mystical creature) retracement of its short but intense emotional rollercoaster.

Trading now below $1,600 and that elusive 100-hour Simple Moving Average, ETH faces a gauntlet of resistance near $1,600 and $1,610 — the latter holding the coveted 50% Fib retracement medal.

Ethereum price chart showing impressive line squiggles

If Ethereum conquers the first major resistance at $1,620, it might dare to dream of the $1,650 summit once more. Conquering $1,650 could lead to wild speculations about $1,720 or even an otherworldly $1,800—assuming the universe hasn’t decided otherwise.

Is This the End of the ETH Road? 💀

Failing to beat the $1,620 resistance would likely send Ethereum into a fresh nosedive. Initial cushions like $1,565 and the big comfy $1,550 zone might break its fall, but a soft landing is far from guaranteed.

If ETH slips below $1,550, expect a bumpy descent toward $1,500, then possibly as low as $1,450, with the next stop at $1,420—because nothing says suspense like watching numbers decline with the grace of a malfunctioning robot.

Technical Mumble-Jumble

Hourly MACD — grooving steadily in the bearish basement. Momentum? Yes. Optimism? Less so.

Hourly RSI — currently lounging below the 50 comfort zone, like a cat ignoring your call.

Major Support Level – the proverbial $1,550 safety net.

Major Resistance Level – the ever-elusive $1,620 speed bump.

Ethereum’s price saga is like a cosmic soap opera written by an algorithmic drunkard—confusing, occasionally exciting, and full of surprises that might or might not involve actual currency.

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2025-04-22 06:27