adminIn recent developments, ethereum price started a decent upward move but failed near $3,050. ETH is now struggling and might continue to move down below $2,900. Ethereum started a recovery wave but struggled above $3,000. The price is trading below $2,950 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $2,930 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it breaks below the $2,880 zone. Ethereum Price Dips Again Ethereum price started a recovery wave above the $2,920 and $2,950 levels, like Bitcoin. ETH price even climbed above the $3,000 resistance before the bears appeared. A high was formed at $3,053, and the price started another decline. There was a sharp decline below $3,000 and $2,980. The bears even pushed the price below $2,950. A low was formed at $2,907 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $3,053 swing high to the $2,907 low. Ethereum price is now trading above $2,950 and the 100-hourly Simple Moving Average. If the bulls are able to protect more losses below $2,900, the price could attempt another recovery wave. Immediate resistance is seen near the $2,940 level. Besides, there is a short-term contracting triangle forming with resistance at $2,930 on the hourly chart of ETH/USD. The first key resistance is near the $2,955 level. The next major resistance is near the $2,980 level. It is close to the 50% Fib retracement level of the downward move from the $3,053 swing high to the $2,907 low. A clear move above the $2,950 resistance might send the price toward the $3,000 resistance. An upside break above the $3,000 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,050 resistance zone or even $3,120 in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,955 resistance, it could start a fresh decline. Initial support on the downside is near the $2,900 level. The first major support sits near the $2,880 zone. A clear move below the $2,880 support might push the price toward the $2,840 support. Any more losses might send the price toward the $2,800 region. The next key support sits at $2,720. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,900 Major Resistance Level – $2,955
Looking closer, market participants highlight key drivers such as liquidity flows, macro risk appetite, regulatory headlines, and on-chain activity. Short-term swings often reflect liquidation cascades and funding imbalances, while spot volumes and exchange inflows set the broader tone.
Analysis: The medium-term picture hinges on whether buyers can sustain momentum without excessive leverage. If flows continue favoring majors like BTC and ETH, altcoins could experience a staggered rotation instead of a broad-based rally. Meanwhile, policy clarity in key jurisdictions remains a decisive catalyst; clearer rules typically compress risk premia and attract institutional allocations. Beyond price action, on-chain metrics such as active addresses, fees, and stablecoin velocity help validate trend strength.
Outlook: Over the next few weeks, observers will watch price acceptance above recent resistance, derivatives positioning, and ETF-related flows. A constructive setup would feature rising spot demand, contained leverage, and improving breadth across sectors such as DeFi, infrastructure, and Layer-2 ecosystems.
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