NewsBTC
Jan 29, 2026
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BEARISH 📉 : Ethereum falls below $3,000 amid bearish trend line break

Ethereum Price Update

  • Ethereum attempted a recovery above $2,880 but faced resistance near $3,050.
  • The price is currently trading below $2,990 and the 100-hourly Simple Moving Average.
  • A break occurred below a bullish trend line with support at $3,000 on the ETH/USD hourly chart.
  • The pair could see an increase if it maintains above the $2,880 zone.

Ethereum Price

Price Analysis

  • Ethereum sustained stability above $2,880 and cleared resistance at $2,920 and $2,950.
  • Bulls pushed above $3,000, but bears were active near $3,050, leading to a decline.
  • The price fell below the 23.6% Fibonacci retracement level of the recent upward move.
  • A clear move above $3,050 may drive the price towards $3,120 or even $3,200.

Potential Downside

  • If Ethereum fails to surpass $3,000, it might decline further.
  • Initial support lies near $2,920, with major support around the $2,880 zone.
  • A drop below $2,880 could push the price towards $2,820 or $2,780.

Technical Indicators

  • Hourly MACD: Gaining momentum in the bearish zone.
  • Hourly RSI: Below the 50 zone.
  • Major Support Level: $2,880
  • Major Resistance Level: $3,000