Ethereum Price Falls Again: Is the Decline Gaining Momentum?

Dec 27, 2024 04:00 am Cryptocurrency 319

Ethereum price started a fresh decline from the $3,550 resistance. ETH is now showing bearish signs and might slide below the $3,300 level.

Ethereum started a fresh decline from the $3,550 zone.

The price is trading below $3,450 and the 100-hourly Simple Moving Average.

There was a break below a connecting bullish trend line with support at $3,450 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could gain bearish momentum if it settles below the $3,300 level.

Ethereum Price Dips To Support

Ethereum price struggled to continue higher above the $3,550 resistance and started a fresh decline like Bitcoin. ETH traded below the $3,450 and $3,420 support levels.

There was a break below a connecting bullish trend line with support at $3,450 on the hourly chart of ETH/USD. The pair even dipped below the 50% Fib ..

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