The Ethereum (ETH) price has started to recover and has moved into a short-term positive zone. It surpassed several resistance levels and even broke the 50% Fib retracement level. However, it faced resistance near $2,770 and the 100-hourly Simple Moving Average, and is now moving lower. If it fails to clear the $2,800 resistance, it could start another decline with initial support at $2,630. A move below $2,600 might push the price towards $2,500, while the next major support is at $2,350. On the upside, a break above $2,920 resistance could bring more gains, with a potential rise towards $3,000 or even $3,120 in the near term. The MACD and RSI indicators are showing loss of momentum and the RSI is below the 50 zone. The major support level is at $2,630 and the major resistance level is at $2,800.



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