Ethereum Price Rebound Runs Out Of Fuel Near Key Resistance
Summary
Ethereum has recovered above $1,620 but is now consolidating and struggling near $1,700 resistance. After moving above the 23.6% Fibonacci retracement of the drop from $2,005 to $1,505, ETH faced renewed selling and broke below a bullish trend line around $1,685. Price is trading below $1,680 and the 100-hour moving average. If buyers hold $1,650, ETH could retest $1,680 and $1,700, then possibly $1,750, $1,800, and higher levels around $1,840–$1,880. If it fails to clear $1,700, downside risk increases. Key support is at $1,650 and $1,620; a break below that could open losses toward $1,580, $1,550, and potentially $1,500. Momentum indicators remain bearish, with MACD weakening and RSI below 50.
