Ethereum Price Drops 8%: What’s Next for the Altcoin Giant?
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Ethereum's price experienced a significant drop, starting from the $3,500 resistance, now trading below $3,400 and the 100-hourly Simple Moving Average. After breaking a declining channel with support at $3,380, ETH has reached a low near $3,183, with bearish indicators suggesting further loss toward $3,120.
Resistance levels formed near $3,250, $3,300, and $3,350, with potential recovery could face hurdles at these points. Potential downside targets include $3,080 and $3,020 support levels. Key indicators such as the Hourly MACD and RSI indicate strong bearish momentum.
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