As the sellers drive the crypto market under the $2 Trillion Mark, the ETH price also crosses under the $3000 mark to reach $2750. Key technical points: ETH prices fall under the $3000 mark. The bearish spread increases between the daily EMAs. The 24-hour trading volume of Ethereum is $19.44 Billion, marking a 6% rise. Past Performance of ETH As ETH prices fail to sustain above the crucial EMAs, the rejection from the $3600 mark results in a fall to the $3000 mark. After struggling to find a bullish launch from the support level, the bearish EMAs push the price under after two weeks of consolidation. With the price retesting the $3000 mark, the downfall continues to create a 6.5% bearish engulfing candlestick. Source-Tradingview ETH Technical Analysis After breaking the psychological mark showing, ETH prices reach the $2750 support level and show a tiny breather reversal. However, a higher price rejection leading to under $2750 will drive the price to $2400. After maintaining a sideways trend, EMAs slowly gain a spread while holding a bearish alignment in the daily chart. Moreover, the 50-day EMA provides dynamic resistance to bullish fightbacks. MACD Indicator: The MACD and signal lines cross under the zero line while maintaining a bearish alignment. Hence, with the downtrend and the rise in bearish histograms, sellers can find entry opportunities at current prices. RSI Indicator: The falling trend in RSI gradually moves side...
