Ethereum (ETH) price faces the risk of losing key support as bearish pressure increases

Ethereum has fallen

ETHUSD

by nearly 9% over the past seven days and continues to trade below the $3,000 mark - a level it hasn't recovered since February 1. Recent technical indicators suggest that bearish momentum is increasing, with weakening trend strength and intensifying selling pressure.

Momentum indicators like RSI have sharply declined, while key resistance levels continue to hold strong against upward attempts. As ETH struggles to regain ground, traders are closely watching to see if support levels will hold or if further declines are imminent.

Bears in the Ethereum market are gaining momentum as trend strength fades.