Key Highlights
- Ethereum extended losses below $3,500 and $3,200.
- ETH is now trading below a key bearish trend line with resistance at $3,480 on the daily chart.
- Bitcoin price gained bearish momentum and tested $90,000.
- The US nonfarm payrolls could change by 50K in Sep 2025.
Ethereum Technical Analysis
Ethereum remained in a bearish zone after it settled below $3,500. ETH extended losses like Bitcoin and declined below $3,200.
Looking at the daily chart, the price even spiked below $3,000 and settled below the 100-day simple moving average (red). The current price action suggests an increase in bearish pressure. If there is a recovery wave, the price could face resistance at $3,200.
The next major resistance is near the $3,380 level. The main resistance is now forming near the $3,480 zone. There is also a key bearish trend line with resistance at $3,480 on the same chart.
A daily close above the $3,380 resistance zone could start another steady increase. In the stated case, the price may perhaps rise toward the $3,500 level. The next stop for the bulls may perhaps be $3,650.
On the downside, the bulls might be active near $3,000 and $2,940. The main support is now forming near $2,740, below which the price could slide toward $2,550. Any more losses might call for a move toward $2,320.
Looking at Bitcoin, there was a sharp decline below $100,000, and the bears seem to be aiming for more downside in the near term.
Economic Releases
- US Initial Jobless Claims – Forecast 223K, versus 232K previous.
- US nonfarm payrolls for Sep 2025 – Forecast 50K, versus 22K previous.
- US Unemployment Rate for Sep 2025 – Forecast 4.3%, versus 4.3% previous.
