Ethereum Price Faces Continued Decline Due to Technical Factors and Resistance

Key Technical Factors

• The EMA34 and EMA89 indicate a bearish phase as both moving averages trend downward.
• EMA39 has crossed below EMA84, reinforcing the medium-term downtrend.
• The current structure suggests a sideways trend rather than an upward one, with potential declines towards $2,500 support.

Resistance Challenges

• Strong resistance at $3,090 aligns with EMA34, halting recovery attempts.
• Declining volume signifies weak capital inflows, exacerbated by holiday periods reducing market liquidity.
• Short recovery candles hint at limited rebound potential.

The Ethereum price remains below $3,000, marking a 37% drop from its 2025 all-time highs.