Ethereum Dips Below $2,600—What’s Next?
Ethereum’s price took another hit today, slipping below the $2,600 mark. It’s not exactly a freefall, but the drop has left ETH hovering around $2,490, testing a key support level. For now, the price seems to be consolidating—neither crashing nor rebounding, just sitting there, waiting for the next move.
Bitcoin’s been struggling too, and ETH often follows its lead. After breaking below $2,550 earlier, the bears pushed it further down, briefly touching $2,450 before a slight recovery. There was a tiny uptick past $2,520, but nothing convincing. It’s like the market’s pausing to catch its breath.
Is a Recovery Possible?
Right now, Ethereum is stuck below the 100-hour moving average, which isn’t great. But there’s a small silver lining—a rising channel forming on the hourly chart, with support around $2,490. If that holds, we might see a bounce.
The first real test is $2,540. If ETH can push past that, the next hurdle is $2,565. That’s a 50% retracement from the recent drop, so it’s a big level. Beyond that, $2,620 is the major resistance to watch. A clean break there could open the door to $2,660 or even $2,800 if things really pick up.
But let’s be honest—that’s a lot of “ifs.” The market’s mood isn’t exactly bullish right now.
Or Will the Slide Continue?
If ETH can’t get past $2,565, the downside could get ugly. The immediate support is $2,490, followed by $2,455. If those give way, $2,360 is the next stop. And if *that* breaks? Well, $2,320 or even $2,250 isn’t out of the question.
The technicals aren’t screaming “buy” either. The MACD is still in bearish territory, though it’s losing steam. The RSI is just above 50, which means there’s no strong momentum either way.
So What Now?
Traders seem stuck in wait-and-see mode. The charts suggest a possible rebound, but the overall trend isn’t exactly reassuring. Maybe ETH finds its footing here. Or maybe it’s just taking a breather before another drop.
For now, keep an eye on $2,490 and $2,565. Whichever side breaks first will likely decide the next move.
