Ethereum price remained in a bearish zone below $3,150 zone. ETH is again moving lower and the bears could aim for a drop below $2,800.
Ethereum started a fresh decline below the $3,000 and $2,950 levels.
The price is trading below $3,000 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance near $2,950 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could correct losses, but upsides might be limited above the $3,000 zone.
Ethereum Price Remains At Risk of More Downsides
Ethereum price failed to start a recovery wave above the $3,080 and $3,120 resistance levels. ETH started another decline below the $3,000 support zone like Bitcoin. There was a move below the $2,950 and $2,920 support levels.
The price declined 6% and even tested the $2,820 support. A low was formed at $2,825 and the price is now consolidating losses. The price is showing a lot of bearish signs and testing the 23.6% Fib retracement level of the
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