Ethereum Price Decline and Resistance Levels
- Ethereum price has fallen below $3,500, entering a bearish zone.
- The price is trading below the key resistance level of $3,500 and the 100-hourly Simple Moving Average.
- A recovery wave started from a low of $3,058 but faces resistance at $3,450 and $3,480.
- If Ethereum fails to clear the $3,480 resistance, it could decline towards the support levels of $3,320 and $3,260.
Ethereum’s recent price movement shows a bearish trend as it struggles to break through significant resistance levels after falling below $3,500. The price needs to surpass these barriers for any potential upward momentum.
Despite attempts at recovery from a low point of $3,058, Ethereum remains under pressure with key resistances at $3,450 and above needing to be cleared for further gains. (Source)
