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Ethereum price falls below key 200-hour SMA, signaling bearish momentum and risk of further decline.

Technical Signals
23 Jun 2026
TheNewsCrypto
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Bearish
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Ethereum (ETH) has dropped below its 200-hour Simple Moving Average (SMA), indicating weakening bullish momentum and increasing seller control. The price recently fell from around $1,720 to the mid-$1,600 range, with $1,580 identified as the next major support level. Technical indicators like MACD and CMF suggest a bearish environment with mild selling pressure, while the RSI nears oversold territory, hinting at a possible short-term relief bounce. If ETH fails to hold support, it could decline further toward $1,514, but a recovery above the 200-hour SMA would signal renewed buying strength.

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