TL;DR Breakdown Ethereum price analysis suggests further consolidation below $3,000The closest support level lies at $2,800ETH faces resistance at the $2,950 mark The Ethereum price analysis shows that despite recovering from the $2,600 lows to climb above the $2,900 mark, ETH has failed in making a breakthrough above the $3,000 mark. However, the price has stabilized significantly in the $2,900 and observes little volatility in the past 24-hours. The broader cryptocurrency market observes a bearish market sentiment over the last 24-hours as most major cryptocurrencies record negative price movements. Major players include DOT and SOL recording a 6.36 and a 6.25 percent decline respectively. Ethereum price analysis: Market uncertain as speculation runs high Technical indicators for ETH/USDT by Tradingview Across the technical indicators, the MACD is currently bullish as expressed by the green histogram. However, the indicator shows little bullish momentum as the size of the histogram is tiny at press time. As ETH continues oscillating around the $2,900 mark, the indicator would continue to observe bullish and bearish crossovers as it has in the past 2 days with the momentum consistently remaining low. The EMAs are currently moving horizontally as ETH observes little to no market activity. The two EMAs are currently trading close to each other showing little to no divergence as traders continue speculating. The RS...
