The conditions under which the Ethereum cryptocurrency will start growing have been named

The price of the main altcoin ETH $2,980.10 Ethereum -0.56% Market capitalization $358.22 billion VOL. 24 hours $1.5 billion failed to overcome the resistance zone at $ 1,860 and began another decline. Market analysts noted: ETH fell below the $ 1,850 level and moved into a bearish zone, just like bitcoin.

According to CoinMarketCap, at the time of writing, ethereum is trading at $ 1,847 with a market capitalization of $ 221.9 billion. Traders made daily trading deals worth $ 3.7 billion.

Industry experts emphasize that the nearest resistance for the main altcoin is near the $ 1,850 level. However, the first major resistance is at $ 1,860, and the next one is at $ 1,880. To enter a steady bullish trend, the cryptocurrency needs to overcome these two levels as soon as possible.

If Ethereum fails to overcome the resistance at $ 1,860, the virtual coin will continue to move downward. The initial downside support is in the range of $ 1,835.

Analysts warn that the first major support is near the $ 1,820 area. If the bulls fail to defend support at this level, ETH may fall sharply. The next important support is at $ 1,780. Any further losses could send the ethereum to the $ 1,720 level.

Technical indicators highlighted by crypto experts:

The RSI for ETH/USD is currently below 50.

The main support level is $ 1,820.

The main resistance level is $ 1,860.