Ethereum also fell; Buyers have the power to support the price?

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The price of Ethereum (ETH) is falling due to increased selling pressure in the market and is now in the $2,800 range. This price reduction occurred at the same time as Bitcoin fell to the range of $86,000 and made Ethereum unable to maintain its psychological level of $3,000.

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Technically, ETH has made lower lows and highs over the past three days, indicating a continuation of the downtrend. Multiple attempts by the price to return to the 3,100 range have also failed and this range has become the main resistance of Ethereum.

If ETH fails to bounce back above the $2,900 level, there is the potential for sharp volatility and an even deeper correction. Now maintaining the $2,800 range is also very important and can determine whether buyers still have enough strength to prevent further declines!