TA: Ethereum Slides Below 3K, Why Bears Could Aim $2.5K

TA: Ethereum Slides Below 3K, Why Bears Could Aim $2.5K

Ethereum started a fresh decline from the $3,080 resistance against the US Dollar. ETH price traded below the key $3,000 support and even declined below $2,920.


  • Ethereum failed to clear $3,080 and started a fresh decline.

  • The price is now trading below $3,000 and the 100 hourly simple moving average.

  • There was a break below a key rising channel with support near $3,030 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair could recover, but upsides might be capped near the $2,950 level.


  • Ethereum Price Breaks Key Support

    Ethereum attempted a fresh increase above the $3,050 level and the 100 hourly simple moving average. However, ETH failed to gain strength above the $3,080 level.


    A high was formed near $3,082 and the price started a fresh decline. There was a clear move below the $3,050 support level and the 100 hourly simple moving average. Besides, there was a break below a key rising channel with support near $3,030 on the hourly chart of ETH/USD.


    The pair traded below the $3,000 support ..

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