Will the Price of Ethereum ETH Continue to Decline in the Cryptocurrency Market

The Ethereum to USD exchange rate is currently below the $1,150 support level.
ETH
It is gaining bearish momentum and may fall below the $1,000 support area.
Bears have taken control.
The bears are gaining momentum below the $1,150 level and the 100-hour simple moving average. The asset traded at a monthly low of $1,078 and is currently consolidating losses.
The immediate resistance level on the upside is near $1,100. On the ETH/USD hourly chart, a key bearish trend line is also forming, with resistance near $1,100. The trend line is close to the 23.6% Fib retracement level from the $1,232 high to $1,078 low.
The next major resistance level is near $1,150 or the 100-hour simple moving average. The 1,078% Fib retracement level of the downward trend from the $1,232 high to $1,078 low is also approaching $1,155.


The current major resistance level is near $1,200. A clear break above this level could lead the price to the $1,250 resistance zone. Any upward break above this level could open the door for a test of the $1,300 resistance area.
More losses for ETH?
If Ethereum fails to break the $1,155 resistance level, it could continue to decline. The initial support level on the downside is near $1,080.
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The next major support level is near $1,000, and below this support level, the Ethereum price could gain bearish momentum. In such a scenario, the price could potentially fall towards the $920 support area in the short term.
The MACD on the hourly chart is now gaining momentum in the bearish zone. The RSI is currently below the 50 level.