Ethereum Prices Drop Amid Bearish Trend
Ethereum (ETHUSD) prices continued to decline in their latest intraday trading, largely due to the dominance of a short-term bearish corrective wave and the impact of breaking a main bullish trend line earlier. As of August 3rd, 2026, Ethereum's price trades below its EMA50, intensifying negative pressure.
The relative strength indicators also continue to provide negative signals after reaching overbought levels, indicating that Ethereum may face further challenges in the near term. This bearish trend is also reflected in the cryptocurrency's inability to break above its 50-period Simple Moving Average (SMA), which remains a significant obstacle for Ethereum.
On the other hand, Wells Fargo & Company (WFC) showed some positive signs as it regained momentum after finding support at its 50-day SMA. The stock remains within a short-term bullish wave and is expected to continue moving alongside an ascending trendline that reinforces the prevailing positive bias.