Ethereum Faces Bearish Momentum: Will It Fall Below $3,000?
Ethereum (ETH) is showing bearish signals as its price drops 3% in 24 hours, extending a 15% decline since January 6. Key technical indicators suggest further downside is possible, with weak momentum and critical support levels under threat.
The RSI currently sits at 41.6, down from 51.1 yesterday, indicating mild bearish momentum. While not oversold, this neutral reading suggests potential consolidation rather than dramatic price moves. Meanwhile, the DMI shows weak trend strength, with an ADX of 14.1 and -DI exceeding +DI, signaling increasing selling pressure.
ETH faces immediate support at $3,158, with a break below risking a drop to $2,927. Resistance stands at $3,334, but bearish EMA patterns suggest continued downward pressure unless a significant trend reversal occurs.
Material prepared by the exchange: coytx.com
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