Ethereum Price Falters Below $2,900 After Failure to Hold Above $2,950
Ethereum's price has fallen below $2,900 after failing to hold above $2,950, sparking questions about whether buyers can mount a sustained recovery. The cryptocurrency dropped to $2,775 before consolidating and is now trading beneath key technical levels that could determine its next move.
The price breakdown saw Ethereum attempt to push above $2,950 but reverse course, breaking below $2,920 and $2,900. Sellers pushed the price through $2,820, establishing a low at $2,775, which is now a key support level.
A recovery attempt would first need to clear $2,850 resistance, with the 50% Fibonacci level at $2,880 representing the next barrier. Breaking above $2,925 could open a path toward $3,000, with further upside potentially reaching $3,080 or $3,120.
However, failure to reclaim $2,850 risks additional downside pressure, with support levels sitting at $2,800 and $2,775. A break below $2,775 could accelerate losses toward $2,720 and $2,640, with critical support at $2,620.