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5 hour ago
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Ethereum Price Falls Over 5% Below $2,880 Mark

Ethereum Price Analysis

  • Ethereum's price has declined over 5%, trading below $2,880 and the 100-hourly Simple Moving Average.
  • A key bullish trend line was broken at $2,990 on the hourly ETH/USD chart. This break adds to the bearish momentum.
  • The current low is $2,815, with resistance forming near $2,880, which could limit any upward movement.
  • The next significant resistance levels are $2,940 and $2,960. A move above these could target $3,000 and potentially $3,050-$3,150 if bullish momentum returns.

Ethereum Price

Potential for Further Decline

  • If Ethereum fails to break above $2,960, further decline is possible.
  • Initial support is at $2,820, with major support at $2,800. Further declines could see prices drop to $2,740 or even $2,650.

Technical Indicators

  • Hourly MACD: Gaining bearish momentum.
  • Hourly RSI: Below 50, indicating potential continued bearish pressure.