Ethereum Price Turns Bearish, Bulls Lose Short-Term Control
Ethereum fell below $3,000. ETH is negative and may go below $2,880.
Ethereum fell again below $3,000 and $2,980.
The price is below $2,950 and the 100-hour SMA.
The hourly ETH/USD chart broke below a rising channel with support around $2,980.
If it falls below $2,880, it may continue to fall. Ethereum Price Rejects Ethereum fell like Bitcoin after failing to remain above the $3,000 pivot threshold. ETH entered a bearish zone below $2,980.
Bears pushed the price below the 50% Fib retracement line of the $2,775 swing low to $3,075 high upward rise. Additionally, ETH/USD's hourly chart broke below a rising channel with support around $2,980.
Ethereum has fallen below $2,980 and the 100-hour SMA. If the bulls can stop additional losses below $2,880, the price may rebound.
Near $2,980 is immediate opposition. Near $3,000 is the first major resistance. Near $3,050 is the next significant resistance. A clean break over $3,050 might push the price above $3,120. Breaking $3,120 may lead to additional gains in the following days. Ether may soar to $3,200 or $3,220 soon.
More ETH losses? Ethereum may fall again if it fails to break $3,000 barrier. Initial downside support is approaching $2,880 and the 61.8% Fib retracement level of the bullish run from $2,775 swing low to $3,075 high.
Near $2,845 is the first big support. A decisive break below $2,845 might bring the market near $2,800. More losses might push the price near $2,775. Next important support is $2,720.
