Ethereum Price Tanks 25%: What’s Next After the Major Decline?

Ethereum Price Tanks 25%: What’s Next After the Major Decline?

Ethereum price started a fresh decline below the $3,000 zone. ETH is down over 25% and the bears seem to be in control below $2,770.


  • Ethereum started a fresh decline below the $3,000 support zone.

  • The price is trading below $2,800 and the 100-hourly Simple Moving Average.

  • There is a key bearish trend line forming with resistance at $2,900 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair could start a recovery wave if it stays above the $2,200 level.

  • Ethereum Price Nosedives


    Ethereum price started a major decline below the $3,000 level, underperforming Bitcoin. ETH declined below the $2,800 and $2,650 levels to enter a bearish zone.


    There was a clear move below the $2,500 level. The price declined over 25% and tested the $2,120 zone. A low was formed at $2,127 and the price is now consolidating losses. There was a minor increase above the $2,300 level. The price surpassed the 23.6% Fib retracement level ..

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