Ethereum was marked bearish weeks ago in our analysis and it could not recover since then. Slowly plunging, is Ethereum headed for $3000?
Ethereum price today is $3,380.28 USD with a 24-hour trading volume of $27,862,602,570 USD. Ethereum is down 10.97% in the last 24 hours, with a market cap of $402,412,997,785 USD. It has a circulating supply of 119,047,281 ETH coins.
After staying a little bullish in a shorter time frame, Ethereum followed the whole cryptocurrency market downwards. Ethereum is moving inside a bearish parallel channel and currently touching the bottoms of it. Ethereum is very likely to break below this channel any time soon and move to the native support of $3233, fib 1.618. Achieving the $3000 target is very feasible for the bears right now. Ethereum has resistance at $4,000, fib 0.236.