Ethereum (ETH) price continues to trade in the red for the third consecutive day on Wednesday after being rejected at the $2,700 level on Monday.
Ethereum price today: $2,580 Ethereum continues to trade down for the third consecutive day following rejection from the $2,700 level. ETH average fees drop below $2, boosting the prospects for increased network usage. Coinbase Premium Index data shows weakness and remains below neutral levels of zero. Ethereum price continues to trade in the red for the third consecutive day on Wednesday after being rejected at the $2,700 level on Monday.
The Relative Strength Index indicator trades at 51 and points downwards on the daily chart after rejection around its overbought level of 70 on Sunday. This indicates a weakness in bullish momentum. If RSI continues to decline and closes below its neutral level of 50, it could lead to a sharp decline in Ethereumprice.
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