$ETH Ethereum bears gain momentum
Ethereum price faced rejection around the $4,000 level on Monday and declined 14% over the next three days, closing below the $3,522 weekly level. At the time of writing on Friday, it trades at around $3,450.
If the $3,522 level holds as resistance and ETH closes below $3,335, it would extend the pullback to retest its next daily support at $3,029.
The RSI on the daily chart reads 42 below its neutral level of 50 and points downwards, indicating strong bearish momentum.
If ETH breaks and closes above the $3,522 level, it could extend the recovery to retest its $4,000 level.
Stay Bullish
