Ethereum prices fall again Bulls Running Out of Defenses?
Ethereum fell below $2,950 again. ETH is stabilizing and may try another comeback wave if it breaks $2,850.
Ethereum fell again below $2,920.
The price is below $2,900 and the 100-hour SMA.
On the hourly ETH/USD chart, a negative trend line connects to $2,925 barrier.
Below $2,800, the pair may continue to fall.
New selling pressure on Ethereum Ethereum tried to rise again but struggled over $2,950, like Bitcoin. ETH fell below $2,920 and $2,900 into a negative zone.
Bears drove prices below $2,820. The price has created a low around $2,775 and is consolidating losses near the 23.6% Fib retracement level of the decline from the $2,993 swing high to the low.
Ethereum has fallen below $2,870 and the 100-hour SMA. On the hourly ETH/USD chart, a negative trend line connects to resistance at $2,925.
Another upward rise might encounter resistance at $2,850. The $2,880 level and 50% Fib retracement level of the decline from the $2,993 swing high to the $2,775 low is the next barrier. First big resistance is between $2,925 and the trend line.
A clean break over $2,975 might push the price above $3,000. Breaking $3,000 may lead to additional gains in the following days. Ether might soar to $3,080 or $3,120 in the short future.
ETH downside continuation? Ethereum may fall again if it fails to break $2,850. The downside has initial support at $2,800. Near $2,775 is the first big support.
A decisive break below $2,775 might bring the price toward $2,720. More losses might push the price beyond $2,640. Next important support is $2,620.
