Ethereum started a fresh decline from the $2,850 resistance against the US Dollar. ETH price is down over 5% and it is struggling to stay above $2,420.
Ethereum declined sharply after there was a clear break below the $2,650 support. The price is now well below $2,650 and the 100 hourly simple moving average. There was a break below a key rising channel with support near $2,760 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down unless there is a strong recovery above $2,550 and $2,650. Ethereum Price Breaks Key Support
Ethereum attempted a major upside break above the $2,800 level. However, ETH failed to clear the $2,850 level and started a fresh decline.
There was a break below a key rising channel with support near $2,760 on the hourly chart of ETH/USD. The pair declined sharply below the $2,650 support and it settled well below the 100 hourly