Ethereum holds above $1,500 but bearish signals persist
Ethereum price is holding above the $1,500 support after a recent slide, pausing its decline. Over the past five days, ETH traded above $1,500 but below the $1,700 swing high. The article notes today’s move lower after testing $1,700, with key downside risk if bears break $1,500: ETH could fall toward $1,260.
If support holds, ETH may continue ranging above $1,500. A recovery would likely require buyers to reclaim the initial $1,700 barrier.
Technical analysis points to a broader downtrend: moving averages are sloping down, the 21-day SMA has crossed below the 50-day SMA, and on the 4-hour chart price has fallen below downward-sloping moving averages. Selling pressure is described as returning after ETH dropped below the 21-day SMA.
The piece also references larger levels (mentioned as resistance at $3,500 and $4,000, and support at $2,500 and $2,000), framing Ethereum as trapped in a range rather than breaking out. The forecast is attributed to the author and is not investment advice.
Bearish
The article highlights ETH holding above $1,500, but the technical setup remains bearish. The down-sloping moving averages and the 21-day SMA crossing below the 50-day SMA signal a continuing downtrend. Price being below downward-sloping averages on the 4-hour chart and the return of selling pressure after the 21-day SMA break suggest rallies may struggle.
In trading terms, this resembles prior “support hold but trend not fixed” scenarios: when price respects a key level yet trend indicators stay negative, markets often chop in a range before a decisive break. Short-term, ETH may oscillate between $1,500 and $1,700. Downside is favored if $1,500 fails, opening room toward $1,260. Upside follow-through likely requires reclaiming $1,700 and stabilizing above the short-term moving averages.
Longer-term, unless moving averages flatten and price can sustain above key averages, the probability of further bearish pressure stays higher, keeping traders focused on confirmation around $1,500 support and $1,700 resistance.