Ethereum Drops 15% Below $2,500 Support Level

Generated by AI AgentCoin World
Sunday, Jun 22, 2025 11:36 pm ET1min read
ETH
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Ethereum's price has experienced a significant decline, falling below the $2,500 support level. This drop has led to a consolidation phase, with the cryptocurrency trading below $2,300 and the 100-hourly Simple Moving Average. The price has tested the $2,120 zone and is currently attempting to recover above the $2,250 resistance level.

The decline in Ethereum's price has been accompanied by a bearish trend, with a key bearish trend line forming with resistance at $2,280 on the hourly chart of ETH/USD. The next key resistance is near the $2,340 level, which is close to the 50% Fib retracement level of the downward move from the $2,568 swing high to the $2,114 low. The first major resistance is near the $2,400 level.

If Ethereum fails to clear the $2,340 resistance, it could start a fresh decline. Initial support on the downside is near the $2,200 level, with the first major support sitting near the $2,150 zone. A clear move below the $2,150 support might push the price toward the $2,120 support, and any more losses might send the price toward the $2,050 support level in the near term. The next key support sits at $2,000.

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. This indicates that market sentiment has turned cautious, with investors adopting a wait-and-see approach as they assess the potential for further declines in Ethereum's price.

Despite the recent decline, there is still potential for Ethereum to recover. A clear move above the $2,400 resistance might send the price toward the $2,500 resistance, and an upside break above the $2,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,550 resistance zone or even $2,620 in the near term.

However, the current market sentiment remains cautious, with investors wary of the potential for further declines in Ethereum's price. This has led to a consolidation phase, with the cryptocurrency trading in a narrow range as investors assess the potential for further declines or a recovery in the price. The next few days will be crucial in determining the direction of Ethereum's price, with investors closely monitoring key support and resistance levels.