$ETH Price Eyes Downside Thrust: Will It Slip Further? - NewsBTC Analytics

Ethereum is in a decline, trading below the $2,500 level and the 100-hourly Simple Moving Average. It recently dropped to a low near $2,401 and is now attempting a recovery, facing resistance at $2,500, which aligns with a bearish trend line on the hourly chart.

If ETH can break above $2,500, it could aim for the $2,550 resistance, with further targets at $2,620 and $2,660. A successful move above these levels might push the price toward the $2,800 resistance zone in the near term.

However, if Ethereum fails to clear the $2,500 resistance, it could decline further. Initial support is near $2,420, with major support around $2,400. A drop below $2,400 could lead to a decline toward $2,320 or even $2,250. The MACD is bearish, and the RSI is below 50, indicating potential continued downside.