Ethereum’s Plunge: Bulls Weep, Bears Feast 🌪️💸

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Ah, the whimsical dance of Ethereum’s price! Like a drunken Cossack at a village fair, it stumbled below $2,950, only to collapse into a heap of despair. Now, it lingers, consolidating its sorrows, dreaming of a recovery wave if it can muster the strength to clear $2,850. But will it? Or shall it remain a pitiful spectacle, a cautionary tale for the greedy and the gullible? 🤡

  • Behold, Ethereum’s descent! It plunged below the $2,920 zone, as if chased by a pack of ravenous bears. 🐻
  • Lo, it trades below $2,900 and the 100-hourly Simple Moving Average, a pitiful wretch in the eyes of the market. 📉
  • A bearish trend line forms, a noose tightening around its neck, with resistance at $2,925 on the hourly chart of ETH/USD (courtesy of Kraken, that purveyor of financial doom). ⚰️
  • Should it settle below $2,800, the abyss awaits, yawning wide with insatiable hunger. 🕳️

Ethereum, once a proud stallion, now a limp noodle, attempted a feeble rise but faltered above $2,950, much like its comrade Bitcoin. Below $2,920 and $2,900 it fell, into the clutches of the bearish zone, where hope goes to die. The bears, those merciless brutes, pushed it further, to a low of $2,775, where it now wallows, consolidating its losses near the 23.6% Fib retracement level. A tragic farce, is it not? 🎭

Trading below $2,870 and the 100-hourly Simple Moving Average, Ethereum clings to life by a thread. The bearish trend line looms, a specter of doom, with resistance at $2,925. Should it attempt another ascent, $2,850 stands as its first tormentor. Beyond lies $2,880 and the 50% Fib retracement level, a Sisyphean challenge. The true trial awaits at $2,925, where the trend line mocks its every effort. 🧱

Ethereum's tragic chart

A breakthrough above $2,925? Ha! It might as well dream of flying to the moon. Yet, should it occur, $3,000 beckons, a mirage in the desert of despair. An upside break above $3,000? Preposterous! But should it happen, $3,080 or even $3,120 might be within reach. A fool’s errand, no doubt. 🌕

Alas, if Ethereum fails to clear $2,850, the knives will come out. $2,800 offers fleeting solace, but $2,775 is the first major support, a thin crust over the abyss. Below $2,775? The fall to $2,720 is inevitable, and from there, $2,640 and $2,620 await, like vultures circling their prey. 🦅

Technical Indicators

Hourly MACD – The MACD for ETH/USD whimpers in the bearish zone, a dying breath. 💨

Hourly RSI – The RSI slumps below 50, a soul crushed by the weight of its own futility. 😔

Major Support Level – $2,775, a flimsy shield against the onslaught. 🛡️

Major Resistance Level – $2,880, a wall too high for this fallen giant. 🧱

And so, dear reader, we leave Ethereum to its fate, a tragic hero in the grand farce of the markets. Will it rise again, or shall it be consigned to the dustbin of history? Only time, that merciless judge, will tell. ⏳

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2025-12-19 06:24