Ethereum Price Dips Below Key Support Levels
- Ethereum price fell below $2,865, entering a bearish zone.
- The price is trading under $2,900 and the crucial 100-hourly Simple Moving Average.
- A bearish trend line with resistance at $2,920 is forming on the hourly chart of ETH/USD.
- Immediate resistance levels are at $2,920 and $2,960, with major support at $2,800.
- Failure to clear the $2,920 resistance could lead to further declines towards the $2,780 support.
Ethereum’s price has slipped below significant support levels as it consolidates losses around the $2,800 mark. The current bearish trend indicates potential for further decline unless key resistances are breached.
A move above the immediate resistance at $2,920 might trigger a recovery attempt for Ethereum towards higher levels such as $3,000 or beyond. (Source)
