Despite Ethereum’s prominent position in the altcoin sector, its growth has been hindered by a prevailing bearish trend in the market in recent weeks. The 20-day EMA at $2,340 is showing a downward turn, and the RSI is in the negative zone, indicating a slight advantage for the bears. Sellers are likely to target a price decline to $2,168 and then to the robust support level at $2,150. If the price experiences a robust rebound from this support, it may result in the ETH/USDT pair remaining within the $2,150 to $2,400 range for an extended period.
At the time of writing, ETH was trading at $2,306.7.
Ethereum (ETH) Chart
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