{"id":2843,"date":"2025-02-10T05:11:05","date_gmt":"2025-02-10T05:11:05","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/ethereum-price-declines-again-will-the-downtrend-continue\/"},"modified":"2025-02-10T05:11:05","modified_gmt":"2025-02-10T05:11:05","slug":"ethereum-price-declines-again-will-the-downtrend-continue","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/ethereum-price-declines-again-will-the-downtrend-continue\/","title":{"rendered":"Ethereum Price Declines Again: Will the Downtrend Continue?"},"content":{"rendered":"<p><em>Ethereum price failed to continue higher above the $2,880 resistance. ETH is now moving lower and might slip further toward the $2,320 support.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh decline below the $2,700 level.<\/li>\n<li>The price is trading below $2,700 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance at $2,680 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh decline if it stays below the $2,700 level.<\/li>\n<\/ul>\n<h2>Ethereum Price Recovery Fades<\/h2>\n<p>Ethereum price started a recovery wave above the $2,650 level, like Bitcoin. ETH was able to surpass the $2,700 and $2,750 resistance levels to move into a short-term positive zone.<\/p>\n<p>However, the bears were active above $2,800 and the price started another decline. There was a move below the $2,720 and $2,700 levels. The price dipped and tested the 50% Fib retracement level of the upward move from the $2,127 swing low to the $2,923 high.<\/p>\n<p>Ethereum price is now trading below $2,700 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $2,680 on the hourly chart of ETH\/USD.<\/p>\n<p>On the upside, the price seems to be facing hurdles near the $2,680 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,700 level. The main resistance is now forming near $2,880 or $2,920. A clear move above the $2,920 resistance might send the price toward the $3,000 resistance.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-693140\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/02\/Ethereum_f3ec3d.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>An upside break above the $3,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,050 resistance zone or even $3,120 in the near term.<\/p>\n<h2>More Losses In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,700 resistance, it could start another decline. Initial support on the downside is near the $2,525 level. The first major support sits near the $2,440 zone.<\/p>\n<p>A clear move below the $2,440 support might push the price toward the $2,320 support. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,120.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n<p>Major Support Level \u2013 $2,525<\/p>\n<p>Major Resistance Level \u2013 $2,440<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price failed to continue higher above the $2,880 resistance. ETH is now moving lower and might slip further toward the $2,320 support. Ethereum started a fresh decline below the $2,700 level. The price is trading below $2,700 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[147],"tags":[138,148,102,104,105],"class_list":["post-2843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=2843"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/2844"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=2843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=2843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=2843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}