Ethereum’s recovery attempt ran into the same wall it hit before. The NewsBTC desk reports ETH started a rebound above the $1,620 zone, but the move is now consolidating and struggling to push through $1,700 resistance.
That matters because the chart has flipped from “breakout” to “range with a downside risk.” NewsBTC says ETH is trading below $1,680 and below the 100-hourly Simple Moving Average. It also notes a break below a bullish trend line, with support at $1,685 on the hourly ETH/USD chart. The data feed cited in the source is Kraken.
What changed since the rebound began
NewsBTC traces the rebound to a prior settlement above $1,620 after ETH surpassed and settled through that level. It also flags that ETH reached beyond the 23.6% Fib retracement level of the downward move from the $2,005 swing high to the $1,505 swing low.
But the follow-through never arrived. NewsBTC points to “fresh bearish reaction” near $1,700, which suggests sellers are defending that zone and forcing ETH back into consolidation.
On the indicator side, NewsBTC cites a bearish tilt rather than a clean recovery signal. Hourly MACD is described as gaining momentum in the bearish zone. Hourly RSI is below the 50 level. In plain terms, NewsBTC’s technical read is that downside pressure is still in play even after the rebound.
The resistance ladder ETH keeps failing
NewsBTC frames $1,700 as the first key resistance. It also places $1,680 as immediate resistance, with the next major level at $1,750.
Beyond $1,750, the source ties upside levels to Fib and then projected next targets. NewsBTC says a 50% Fib retracement at $1,750 is the next major barrier, and that a clear move above $1,750 could open a path toward $1,800. If ETH breaks and holds above $1,800, NewsBTC says the market could then move toward $1,840 and even the $1,880 resistance zone.
Those are conditional levels. The source’s own thesis is that this rebound needs acceptance above resistance to avoid rolling over again.
If ETH can’t clear $1,700, where the downside goes
NewsBTC also lays out a downside path if $1,700 doesn’t break. It lists $1,650 as initial support, then $1,620 as the first major support.
If ETH loses $1,620, NewsBTC says it could slip toward $1,580. Further losses could bring $1,550, with $1,500 flagged as the main support.
Again, these are technical waypoints, not promises. The source explicitly links the downside scenario to failure to clear $1,700.
Quick technical map (from NewsBTC)
| Level | Role | What NewsBTC says |
|---|---|---|
| $1,700 | Resistance | “First key resistance.” Failure can trigger a fresh decline |
| $1,680 | Near-term resistance | ETH trading below it and also below the 100-hour SMA |
| $1,750 | Major resistance | Next major barrier, aligned with the 50% Fib level |
| $1,800 | Upside gate | A break above it could extend gains |
| $1,650 | Support | Initial downside support |
| $1,620 | Major support | First major downside support. Clear break risks a slide |
| $1,500 | Main support | Bottom of the downside map |
ETH is not in a free-fall, but NewsBTC’s read is clear: the bounce lacks fuel while it stays under $1,700. The market is currently rewarding sellers at resistance and making buyers prove they can regain the hourly trend and move above the $1,680 area and the 100-hour SMA.