Ethereum price stalls after brushing shoulders with the 61.8% Fibonacci level.
Overhead pressure begins to increase amid a looming correction to $3,000.
The MACD has a vivid bearish impulse following a sell signal.
Ethereum is trading slightly above $3,300 on Tuesday during the Asian session. On Monday, its price action was mainly drab, with bulls unable to crack the resistance at $3,400 to make way to $4,000.
Intriguingly, Bitcoin gained some key ground to trade above $50,000. Nonetheless, a correction also looms, with BTC trading marginally below the same key level.
Ethereum Price On The Verge Of A Pulldown To $3,000
Following the recovery above $3,300, resistance at $3,600 and $4,000 came in sight. However, these levels are still on the horizon due to a massive barrier at the 61.8% Fibonacci level of the last swing high at $4,400 to a swing low of $1,721.
If this hurdle remains intact, bulls will have a big challenge working their way toward $3,600 and $4,000, respectively. Beside
