Ethereum price started a recovery wave above the $2,880 zone but it failed near $3,050. ETH is declining and might struggle to stay above $2,920.
Ethereum failed to stay above $3,000 and started a fresh decline.
The price is trading below $2,990 and the 100-hourly Simple Moving Average.
There was a break below a bullish trend line with support at $3,000 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase if it stays above the $2,880 zone.
Ethereum Price Dips Again
Ethereum price managed to remain stable above $2,880 and started a recovery wave, like Bitcoin. ETH price was able to clear the $2,920 and $2,950 resistance levels.
The bulls even pumped the price above $3,000. However, the bears remained active near $3,050. A high was formed at $3,040 and the price started another decline. There was a move below the 23.6% Fib retracement level of the recent upward move from the $2,784 swing low to the $3,040 high.
Besides, there was a b
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