The price of Ethereum has experienced a significant decline, dropping over 10% and struggling to stay above the $2,500 level. It failed to clear the $2,850 resistance zone and has entered a bearish zone. The price is currently consolidating below key resistance levels and is trading below the 100-hourly Simple Moving Average. If the price manages to break above the $2,650 resistance, it could potentially rise towards the $2,750 resistance and even reach the $2,850 resistance zone in the near term. However, if it fails to clear the $2,600 resistance, another decline could occur, with initial support at the $2,550 level. The next key support levels are at $2,450, $2,320, and $2,250. The technical indicators, such as the MACD and RSI, suggest bearish momentum for Ethereum.



Other News from Today