{"id":5580,"date":"2025-07-02T04:11:08","date_gmt":"2025-07-02T04:11:08","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/ethereum-price-drops-after-bullish-attempt-support-area-under-pressure\/"},"modified":"2025-07-02T04:11:08","modified_gmt":"2025-07-02T04:11:08","slug":"ethereum-price-drops-after-bullish-attempt-support-area-under-pressure","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/ethereum-price-drops-after-bullish-attempt-support-area-under-pressure\/","title":{"rendered":"Ethereum Price Drops After Bullish Attempt \u2014 Support Area Under Pressure"},"content":{"rendered":"<p><em>Ethereum price started a fresh decline from the $2,520 zone. ETH is now back below $2,450 and struggling to stay above the $2,350 support.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh decline from the $2,520 level.<\/li>\n<li>The price is trading below $2,450 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break below a key bullish trend line with support at $2,450 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh increase if it remains stable above the $2,350 zone in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Trims Gains<\/h2>\n<p>Ethereum price started a fresh decline from the $2,520 resistance, like Bitcoin. ETH price declined below the $2,500 and $2,450 levels to enter a short-term bearish zone.<\/p>\n<p>Besides, there was a break below a key bullish trend line with support at $2,450 on the hourly chart of ETH\/USD. The pair even spiked below the $2,400 level. A low was formed at $2,373 and the price is now attempting to recover some losses.<\/p>\n<p>It climbed above the 23.6% Fib retracement level of the downward move from the $2,523 swing high to the $2,373 low. Ethereum price is now trading below $2,450 and the 100-hourly Simple Moving Average.<\/p>\n<p>On the upside, the price could face resistance near the $2,420 level. The next key resistance is near the $2,450 level. It is close to the 50% Fib retracement level of the downward move from the $2,523 swing high to the $2,373 low. The first major resistance is near the $2,465 level. A clear move above the $2,465 resistance might send the price toward the $2,520 resistance.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-781323\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/07\/Ethereum_281ace.png?resize=1024%2C479\" alt=\"Ethereum Price\" width=\"1024\" height=\"479\" \/><\/p>\n<p>An upside break above the $2,520 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 $2,650 in the near term.<\/p>\n<h2>Another Decline In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,450 resistance, it could start a fresh decline. Initial support on the downside is near the $2,375 level. The first major support sits near the $2,350 zone.<\/p>\n<p>A clear move below the $2,350 support might push the price toward the $2,280 support. Any more losses might send the price toward the $2,220 support level in the near term. The next key support sits at $2,150.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing 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 $2,350<\/p>\n<p>Major Resistance Level \u2013 $2,450<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price started a fresh decline from the $2,520 zone. ETH is now back below $2,450 and struggling to stay above the $2,350 support. Ethereum started a fresh decline from the $2,520 level. The price is trading below $2,450 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5581,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[147],"tags":[138,148,102,104,105],"class_list":["post-5580","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\/5580","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=5580"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/5580\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/5581"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=5580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=5580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=5580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}