Ethereum Hammers On Technical Support: Here Are The Levels

Cryptocurrency Ethereum (ETH) continues to see significant weakness. After reaching a high in December 2024 at $4,100, Ethereum has lost 37%. The run was largely due to the excitement over President Trump's election and his favorable view of crypto. However, since his inauguration, there has not been many big announcements for the crypto industry, at least not substantial ones. This has created a sell-the-news type drop in crypto across the board (especially altcoins).

Based on technical analysis, Ethereum is holding key support at $2,565. Should that break, the next big support level is at $2,135.

Turning toward resistance levels, a key down-sloping trend line is currently at $3,100. This will be a big level. Should price break above that, there is no major resistance until $3,725, then $4,100.

Based on price action, the bias remains negative in the coming week.