The Ethereum price has experienced a fresh decline after failing to clear the $2,550 resistance zone. It has dropped over 5% and is now trading below $2,450 and the 100-hourly Simple Moving Average. The price is facing hurdles near the $2,380 level and the 50% Fib retracement level. The main resistance is forming near $2,450. If the price is able to break above $2,450, it could rise towards the $2,500 resistance and potentially even reach $2,550 or $2,620 in the near term. On the other hand, if it fails to clear the $2,500 resistance, the price may start another decline with initial support near $2,315 and the first major support near the $2,250 zone. A move below $2,250 could push the price towards the $2,200 or $2,120 support levels. The MACD and RSI indicators are both showing bearish signals for ETH/USD.



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