Ethereum Slips After Rebound, Struggling to Keep Momentum Above $3,500

Overview

Ethereum’s price has struggled to maintain momentum, slipping below critical levels after failing to hold above $3,550. This decline raises concerns about further losses if certain support levels are breached.

Recent Price Movements

Ethereum price recently attempted to rise above $3,550 but was unable to sustain this level. Following this failure, ETH began a new decline, dropping below $3,500 and entering a bearish zone. The decline intensified as it moved below the 50% Fibonacci retracement level of a previous upward move.

Currently, Ethereum is trading below both the $3,550 resistance level and the 100-hourly Simple Moving Average. A bearish trend line has formed, indicating resistance at the $3,550 mark on the hourly chart.

Resistance and Support Levels

• The first major resistance is positioned near the $3,550 level, with additional resistance anticipated around $3,475 and $3,500.
• Should there be a recovery, overcoming the $3,550 resistance could lead to a potential rise towards $3,650 and beyond.
• Conversely, if Ethereum fails to breach the $3,500 resistance, it risks initiating a further decline.

Initial support is identified near $3,400, with significant support at the $3,360 zone, which also aligns with the 61.8% Fibonacci retracement level. A decisive move below this support could lead to further declines towards $3,280 and potentially the $3,240 region.

Technical Indicators

• Hourly MACD: The MACD for ETH/USD is gaining momentum in a bearish direction.
• Hourly RSI: The RSI for ETH/USD has fallen below the 50 threshold.

Impact on the crypto market

• Ethereum’s inability to maintain key resistance levels may influence trader sentiment negatively.
• A continued decline could lead to increased selling pressure in the broader crypto market.
• The formation of a bearish trend line suggests potential volatility ahead for Ethereum as it navigates these critical price levels.
• The performance of Ethereum could impact Bitcoin and other cryptocurrencies, given the interconnected nature of the market.
• Support levels will be closely monitored by traders as they assess the likelihood of further downward movements.

Updated: 11/13/2025, 4:29:34 AM