TA: Ethereum Bears Aim Big After Recent Breakdown Below $2.5K

TA: Ethereum Bears Aim Big After Recent Breakdown Below $2.5K


Ethereum started a major decline from the $2,700 zone against the US Dollar. ETH dived below $2,550 and might accelerate lower below the $2,420 support.

Ethereum started a major decline after it failed to surpass $2,700. The price is now trading below $2,550 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,490 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline further if there is a close below the $2,420 support zone. Ethereum Price Takes Hit

Ethereum struggled to settle above the $2,700 resistance. ETH topped near the $2,700 level and started a fresh decline. There was a sharp move below the $2,620 and $2,550 levels.

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The bears

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