Ethereum price started a fresh decline below the $3,000 zone. ETH is down over 25% and the bears seem to be in control below $2,770.

• Ethereum started a fresh decline below the $3,000 support zone.
• The price is trading below $2,800 and the 100-hourly Simple Moving Average.
• There is a key bearish trend line forming with resistance at $2,900 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a recovery wave if it stays above the $2,200 level.

Ethereum Price Nosedives

Ethereum price started a major decline below the $3,000 level, underperforming Bitcoin. ETH declined below the $2,800 and $2,650 levels to enter a bearish zone.

There was a clear move below the $2,500 level. The price declined over 25% and tested the $2,120 zone. A low was formed at $2,127 and the price is now consolidating losses. There was a minor increase above the $2,300 level. The price surpassed the 23.6% Fib retracement level of the downward move from the $3,403 wing high to the $2,127 swing low.

Ethereum price is now trading below $2,800 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,650 level. The first major resistance is near the $2,770 level or the 50% Fib retracement level of the downward move from the $3,403 wing high to the $2,127 swing low.

The main resistance is now forming near $2,900. There is also a key bearish trend line forming with resistance at $2,900 on the hourly chart of ETH/USD. A clear move above the $2,900 resistance might send the price toward the $3,000 resistance.

An upside break above the $3,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,150 resistance zone or even $3,250 in the near term.

Another Drop In ETH?

If Ethereum fails to clear the $2,600 resistance, it could start another decline. Initial support on the downside is near the $2,320 level. The first major support sits near the $2,250.

A clear move below the $2,250 support might push the price toward the $2,120 support. Any more losses might send the price toward the $2,000 support level in the near term. The next key support sits at $1,880.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $2,200

Major Resistance Level – $2,600

TRUMP price has continued its downward trajectory, currently trading near $21 after a sharp decline of roughly 72% from its all-time high. Over the past 24 hours, the meme coin has dropped another 9%, extending its losses to nearly 30% in a week.

TRUMP lost nearly $10 billion in market cap over the past two weeks, reflecting ongoing selling pressure. As technical indicators like RSI and CMF remain weak, the meme coin faces a critical test to determine whether it can regain momentum or risk further downside.

TRUMP RSI Shows Sellers Are Still In Control Despite The Recent Recovery

TRUMP RSI is currently at 31.68, remaining below the 50 mark for the past seven days, with a notable low of 19.8 on February 1. This extended period of weak RSI suggests persistent selling pressure, as the token has struggled to generate enough momentum for a meaningful recovery.

A sharp dip to 19.8 highlights an extreme level of bearish sentiment, though the recent recovery to 31.68 indicates some stabilization. However, the inability to cross 50 suggests that bullish strength remains limited, keeping TRUMP in a vulnerable position.

The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and magnitude of price movements, ranging from 0 to 100.

Readings above 70 indicate overbought conditions, signaling a possible correction, while readings below 30 suggest an asset is oversold and may be primed for a rebound.

With TRUMP RSI at 31.68, it is hovering just above oversold territory but still below the neutral 50 level, indicating that sellers continue to dominate.

The inability to reclaim 50 over the past week reinforces a bearish outlook, as it reflects a lack of sustained buying pressure necessary to shift market sentiment.

CMF Is Currently At Very Low Levels

TRUMP CMF is currently at -0.23, marking its third consecutive day in negative territory. Yesterday, it hit an all-time low of -0.27, reflecting a significant outflow of capital.

This sustained negative reading suggests that selling pressure has outweighed buying interest, with more volume being transacted at lower prices.

While the slight recovery to -0.23 indicates some stabilization, the overall trend remains bearish, signaling that TRUMP is struggling to attract consistent liquidity inflows.

The Chaikin Money Flow (CMF) is an indicator that measures the accumulation and distribution of capital based on price and volume over a specified period. It ranges from -1 to 1, with positive values indicating strong buying pressure and negative values suggesting persistent selling pressure.

A CMF reading of -0.23 means that sellers are in control, as more volume is flowing out of TRUMP than into it. Given that CMF has remained negative for three days and recently hit its lowest level ever, this suggests weak demand and a lack of sustained buying support, which could keep TRUMP price under pressure in the short term.

TRUMP Price Prediction: More Corrections Ahead?

The TRUMP meme coin is currently trading near the $21 level, facing a key resistance at $24.58. As one of the most hyped meme coins ever launched, a resurgence in momentum could drive a breakout above this resistance.

If buying pressure strengthens and TRUMP reclaims bullish momentum, testing $24.58 becomes a likely scenario.

A successful breakout above this level could trigger further upside, potentially leading to a test of $30.47 in the near term as traders capitalize on renewed enthusiasm.

On the other hand, if TRUMP price fails to establish an uptrend and sellers maintain control, downward pressure could intensify. A lack of buying strength might push the price lower, with $18.56 acting as the next major support level.

If bearish sentiment deepens and volume favors sellers, TRUMP price could break below this level, opening the possibility for further downside.