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Ethereum Price Falls Below $4,120; Risks Further Decline
Ethereum Price Update:
- Ethereum price declined below $4,150 and is struggling to maintain levels above $4,050.
- The price is trading below both the $4,150 mark and the 100-hourly Simple Moving Average.
- A bearish trend line with resistance at $4,360 is forming on the hourly chart of ETH/USD.
- A further decline is possible if Ethereum breaks the $4,050 support zone.
Current Market Conditions
- Ethereum remains in a bearish zone after falling below $4,450.
- The price dipped past support levels of $4,320 and $4,300, reaching a low of $4,000.
- A minor recovery wave was observed, but resistance was met near $4,250.
- If the price surpasses $4,250, it could rise toward resistance at $4,350 and the trend line at $4,360.

Potential Downside
- If Ethereum fails to overcome $4,220 resistance, it may decline further.
- Initial downside support is at $4,050, with major support at $4,000.
- A break below $4,000 might lead to a drop towards $3,880 or even $3,820.
- The next key support level is at $3,750.
Technical Indicators:
- MACD: The MACD for ETH/USD is gaining momentum in the bearish zone.
- RSI: The RSI for ETH/USD is currently below the 50 zone.
Support and Resistance Levels:
- Major Support Level: $4,050
- Major Resistance Level: $4,220