Ethereum Is in Danger of Falling Below $2,800

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

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