Ethereum price (ETHUSD) declined strongly to succeed touching our suggested negative target at 3017.30$, and the way seems open to surpass this level and suffer additional losses on the intraday and short-term basis, noting that confirming the break will push the price towards 2765.00$ as a next negative station.

 

On the other hand, we should note that the consolidation of 3017.30$ level against the current negative pressure will lead the price to attempt to recover and build bullish wave that targets testing 3222.00$ areas initially.

 

The expected trading range for today is between 2950.00$ support and 3200.00$ resistance.

 

Trend forecast: Bearish