Ethereum Stumbles Below $2,900 Resistance

Ethereum is struggling to regain momentum after its price dipped below $2,900. The cryptocurrency attempted to break through the $2,950 resistance level but failed, prompting a decline to $2,775.

The bearish trend line at $2,925 poses significant resistance for Ethereum, while the 100-hour Simple Moving Average also indicates that the price is trading below its key technical levels.

A recovery attempt would require Ethereum to clear the $2,850 resistance level, which could potentially pave the way for further upside towards $3,000 and beyond.