Ethereum’s Rally Stalled: Resistance Threatens Price Rebound

Following a decline below the $3,000 mark, Ethereum is attempting to recover, but key resistance levels pose significant obstacles. Market data from Kraken reveals that ETH failed to hold above $3,150 earlier this week, triggering a drop that briefly tested the $2,950 region. 📈 The price subsequently declined, ultimately finding support near $2,941 before attempting a retracement. However, it still trades below $3,120 and the 100-hourly Simple Moving Average (SMA), suggesting that bullish momentum remains weak.