Ethereum’s recovery attempt failed fast. The move started as a downside correction from around $1,720, then pushed lower through multiple nearby technical floors.
The desk’s reference points come from the source’s ETH/USD chart work using a Kraken data feed. In that view, ETH is trading below the $1,665 level and under the 100-hourly Simple Moving Average. Worse for bulls, the price also broke below a bullish trend line that had support at $1,700 on the hourly chart. That matters because it signals the market stopped respecting the earlier “line in the sand” on the way up.
What the chart says ETH needs to stop the slide
According to NewsBTC, ETH has to clear $1,670 and $1,700 resistance levels to continue higher. The source also flags $1,680 as a line the market keeps testing. If ETH stays below $1,680, NewsBTC expects continued downside pressure.
On the upside, the immediate resistance sits near $1,665, then $1,680, and next near $1,710. NewsBTC’s scenario is conditional. If bulls stay active above $1,610, ETH could attempt another increase. If ETH then breaks above $1,710, the source says the move could extend toward $1,750. Beyond that, the article stretches the upside into a range toward $1,840 and $1,850.
That’s not a promise. It’s a technical map. Assets can and do ignore technical maps, especially when the market keeps rejecting the same nearby level after a failed recovery.
| Level type | Price level | Meaning in the source | Source framing |
|---|---|---|---|
| Key resistance | $1,670 | Must clear to continue higher | NewsBTC |
| Key resistance | $1,700 | Must clear to continue higher | NewsBTC |
| Resistance | $1,680 | Staying below could invite more downside | NewsBTC |
| Support | $1,610 | Bulls need to remain active above it for another push | NewsBTC |
| Major resistance | $1,710 | Clear move could extend gains | NewsBTC |
Where downside risk concentrates
NewsBTC also outlines the bearish follow-through path. If ETH fails to clear $1,710 resistance, it could start a fresh decline.
The first downside support is pegged at $1,610. Then the source highlights $1,585 as the first major support, tied to the 61.8% Fib retracement of the upward move from $1,505 to $1,719. If $1,585 breaks cleanly, NewsBTC points to $1,550 as the next support. Further losses could drag the price toward $1,520, with main support at $1,500.
In plain terms, the source is arguing ETH has to hold a specific band to prevent the chart from “rolling over again.” Once the market slips below a cluster like this, the next levels tend to show up faster than the “recovery” narrative.
Indicators: bearish momentum still in control
The article’s indicator read leans bearish. NewsBTC says the hourly MACD for ETH/USD is gaining momentum in the bearish zone. It also says the hourly RSI is below the 50 zone. Together, those readings support the idea that selling pressure still has the steering wheel, not the dashboard.
One more detail from the source: it notes bears pushed ETH below the 38.2% Fib retracement of the upward move from the $1,505 swing low to the $1,719 high. That’s consistent with the idea that the failed recovery wasn’t just noise. It was rejection.
The practical checkpoint for traders and holders
If you’re watching ETH as an asset with risk, the source reduces the decision points to a few hourly levels. NewsBTC’s bullish case depends on reclaiming $1,670 and $1,700. Its bearish case depends on ETH losing $1,610 and then $1,585.
So the near-term “story” from this report isn’t about a big fundamental turning point. It’s about whether price action can hold the same zones that just failed once.