Ethereum Price Declines Again: Will the Downtrend Continue?

Ethereum Price Declines Again: Will the Downtrend Continue?

Ethereum price failed to continue higher above the $2,880 resistance. ETH is now moving lower and might slip further toward the $2,320 support.


  • Ethereum started a fresh decline below the $2,700 level.

  • The price is trading below $2,700 and the 100-hourly Simple Moving Average.

  • There is a connecting bearish trend line forming with resistance at $2,680 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair could start a fresh decline if it stays below the $2,700 level.

  • Ethereum Price Recovery Fades


    Ethereum price started a recovery wave above the $2,650 level, like Bitcoin. ETH was able to surpass the $2,700 and $2,750 resistance levels to move into a short-term positive zone.


    However, the bears were active above $2,800 and the price started another decline. There was a move below the $2,720 and $2,700 levels. The price dipped and tested the 50% ..

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