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During the last 24 hours Ethereum is down nearly 10% due to heavy bearish pressure. Most of the crypto market is in bearish land slide so it’s normal for eth to also be down.
Ethereum resistance level is around $3000 to $3100 it has been tested but failed. Ethereum currently has support at $2900 to 2800 and likely this support will be tested.
On a positive note: Ethereum staking has reached all time high with over 33 million eth locked in staking. Ethereum will receive Fuska updates in December and this will improve network efficiency among many other factors.
In conclusion: Extreme fear in the market is still signaling a bearish moment. Long term remains very positive Due to strong staking and upcoming December updates.
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