Ether bounced off the $2,300 support on Sept. 4, but the bulls could not maintain the higher levels.
The bears have pulled the price below $2,300 on Sept. 6.
Both moving averages are sloping down, and the relative strength index (RSI) is near the oversold territory, indicating that the bears are in charge.
If the price closes below $2,300, the ETH/USDT pair could decline to $2,111 and thereafter to $2,000.
The bulls have an uphill task if they want to start a recovery.
A break and close above the 20-day EMA ($2,530) will be the first sign of strength.
The pair may then ascend to the breakdown level of $2,850.
Source: @Cointelegraph
