Ethereum started a sharp decline after there was a clear move below $3,000.
The price is now trading above $2,900 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $2,.935 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must stay above that level to avoid more downsides in the near term.
Major Support Level – $2,840
Major Resistance Level – $2,930