Ethereum Drops 10% Below $2,500 Mark

Generated by AI AgentCoin World
Thursday, Jun 5, 2025 9:56 pm ET1min read
ETH
--

Ethereum's price has recently experienced a decline, falling below the $2,500 mark. This drop comes after the cryptocurrency failed to surpass the $2,650 level, similar to the movement seen in Bitcoin. The price of Ethereum has dipped below several key support levels, including $2,565 and $2,550. Additionally, there was a break below a crucial rising

channel
with support at $2,610 on the hourly chart of ETH/USD. The price even dipped below the $2,500 support level, forming a low at $2,394, and is now consolidating losses.

Currently, Ethereum is trading below $2,500 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $2,460 level, which is close to the 23.6% Fib retracement level of the downward move from the $2,680 swing high to the $2,394 low. The next key resistance is near the $2,500 level, with the first major resistance near the $2,540 level. This level is close to the 50% Fib retracement level of the downward move from the $2,680 swing high to the $2,394 low. A clear move above the $2,540 resistance might send the price toward the $2,600 resistance. An upside break above the $2,600 resistance might call for more gains in the coming sessions, potentially rising toward the $2,650 resistance zone or even $2,720 in the near term.

However, if Ethereum fails to clear the $2,500 resistance, it could start a fresh decline. Initial support on the downside is near the $2,400 level, with the first major support sitting near the $2,380 zone. A clear move below the $2,380 support might push the price toward the $2,350 support. Any more losses might send the price toward the $2,320 support level in the near term, with the next key support sitting at $2,250.

Technical indicators suggest that the MACD for ETH/USD is gaining momentum in the bearish zone, while the RSI for ETH/USD is now below the 50 zone. The major support level is at $2,320, and the major resistance level is at $2,500. Investors are closely monitoring these key support levels as Ethereum's price continues to fluctuate.