Is Ethereum coming to $3000?

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.   

Source: Tradingview

Ethereum: Analysis

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.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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