#ETH🔥🔥🔥🔥🔥🔥 Why Is Ethereum Falling Today? Top 3 Reasons
The Ethereum price has displayed increased bearish price action today, resulting in it retesting its $2,500 range. The value of ETH coin displayed signs of bullish build-up during the early Asian market, however, the value recorded a negative setback as the day proceeded.
Ethereum Bulls Struggle At Key Moving Averages
The Simple Moving Averages (SMAs) 10, 50, 100, 200 is a key technical indicator used to analyze market trends by comparing price data over a specific number of periods. In the below chart, the SMA 100 & 200-days are on the verge of a negative crossover.
Moreover, they have acted as a strong resistance for the ETH coin price today as the altcoin faced a rejection at that point. This highlights a strong liquidation zone around that level that is $2,565. Following this, the value has dropped below the $2,500 mark, suggesting a rising bearish angle.
