Ethereum now faces short-term resistance near $2,960, and the market reacts each time price approaches it. If Ethereum fails to break $2,960, it may pull back again. Initial support appears near $2,820, followed by the first major support at $2,800.
A drop under $2,800 could push Ethereum toward $2,740, and further losses could reach the $2,720 region. The next supports sit at $2,650 and $2,620, creating a cluster of levels that traders monitor.
Technical indicators show selling pressure. The MACD gains momentum in the bearish zone on the hourly chart. The hourly RSI moves below the 50 zone and signals fading strength. The major support level sits at $2,800, and the major resistance stands near $2,940.