Ethereum Price Falls Below $3,000 Amid Bearish Trends
- Ethereum price declined from the $3,175 zone and is now trading below $3,000.
- ETH is currently below the Ethereum price of $3,000 and the 100-hourly Simple Moving Average.
- A bearish trend line with resistance at $3,120 is forming on the hourly chart of ETH/USD.
- The price reached a low of $2,916 and is consolidating losses below the key resistance levels.
- Major support levels are at $2,920 and further at $2,880 if declines continue.
Ethereum’s recent decline saw its price fall below critical support levels as it struggles to maintain above the $3,000 mark amid bearish market conditions. The formation of a bearish trend suggests potential continued downward pressure unless key resistances are overcome.
Currently consolidating around $2,916, Ethereum faces significant resistance near $2,980 and beyond at $3,080 if it attempts recovery in the short term. Source
