ETHUSD- berish downtrend continuesThe Ethereum (ETHUSD) price action sentiment appears bearish, supported by the longer-term prevailing downtrend.
The key trading level is at 3,070, 200 Day Moving Average level. An oversold rally from the current levels and a bearish rejection from the 3,0700 level could target the downside support at 2,500 followed by 2,340 and 2,190 levels over the longer timeframe.
Alternatively, a confirmed breakout above 3,070 resistance and a daily close above that level would negate the bearish outlook opening the way for further rallies higher and a retest of 3,310 resistance followed by 3,460 levels.