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Ethereum Starts Recovery


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Ethereum extended decline below the $2,800 support against the US Dollar. ETH price is correcting losses, but upsides might be limited above $2,800.

    Ethereum started a major decline below the $2,880 support level.
    The price is now trading below $2,800 and the 100 hourly simple moving average.
    There was a break above a major bearish trend line with resistance near $2,650 on the hourly chart of ETH/USD.
    The pair could recover, but the bears might remain active near $2,800 and $2,880.


Ethereum Price Extends Decline


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It's crucial to keep an eye on that $2,880 resistance zone because a successful close above it could bring some much-needed bullish momentum. The $3,000 mark is a significant target for the bulls, and I'm sure many in the crypto community are watching that level closely.However, there's always the possibility of another dip if ETH can't gather enough upward momentum. It seems like the $2,650 support level is an important one to watch, and a break below it might lead to more bearish sentiment.In times like these, having access to tools like Ethereum Code can be a game-changer. It's an AI-powered trading tool that can provide valuable insights and help navigate the crypto market's twists and turns.

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