Ethereum is facing hurdles in the area of 2950-3000 dollars. The price of Ethereum could not overcome the resistance around 2950 dollars and began a new decline. It is still trading below the 100-hour moving average, but is starting to form a short-term uptrend line.
If Ethereum still manages to overcome the resistance area of 2950-3000 it could start a strong rally. In this case, it will meet resistance around 3150 dollars.
If we see a further decline in the price of Ethereum, it could drop to the area of 2850. Further support for the ETH/USD pair is around 2800 dollars.
A further decline downward and a breakdown of the 2750 level could trigger a further decline in the Ethereum price. In this case, the ETH/USD pair may drop to the area of 2650 dollars.