Ethereum bears aiming to hit $1,900 Ethereum pric

Ethereum bears aiming to hit $1,900

Ethereum price faced a rejection around its descending trendline on February 1 and declined 13.87%, closing below its $3,000 psychologically important level the next day. ETH continued its correction by nearly 9% in the previous week. At the start of this week on Monday, it edges down, trading around $2,584.

If ETH continues its decline and closes below $2,359, it will extend the decline to test its next weekly support at $1,905.

The RSI on the daily chart reads 29, below its oversold level of 30, indicating a strong bearish momentum. The MACD also continued to show a bearish crossover last week, suggesting the continuation of a bearish trend.