Ethereum At $3028, Where Is The Next Critical Support Level For ETH?

Ethereum was priced at $3030 and the altcoin king noted a sharp decline of 11% in the past week. Major cryptocurrencies are all on a downtrend, after breaking past their immediate support levels. Bitcoin was priced below $40k and had declined by 12% over the past week. The global cryptocurrency market cap stood at $1.96 Trillion after a decline of 0.2% over the last 24 hours. Ethereum had witnessed a selling spree in the last week but over the last 24 hours, the coin tried to recover from the grasp of sellers, however, buying pressure is yet to resurface in the market. Recently, Ethereum developers went live with their Mainnet Shadow Fork. Ethereum Price Analysis: Four Hour Chart Ethereum was priced at $3028.86 and the coin has been hovering around the aforementioned price level over the past 48 hours. Immediate resistance for the coin stood at $3085.60 after the coin has been rejected from that level a couple of times in the past few days. Continued rejection from the resistance mark can push Ethereum to trade near the $2839.12 support level. A fall to that level would mean a 6.44% decline. In case the bulls resurface, the coin would aim for the resistance mark at $3391.95 and then at $3609.61. Trading volume was in red which signalled that buyers were less in number at the time of writing. Related Reading | The Ronin Hack Aftermatch: Axie Infinity’s $1M Bug Bounty Technical Analysis Ethereum was hovering in the oversold...