Key Summary:
Ethereum failed to break out of the $2,750 resistance area.
ETH/USD remains below a key bearish trend line with resistance at $2,850 on the daily chart.
The price must stay above $2,400 to attempt an upward move above $2,750 and $2,850.

Ethereum (10)
Ethereum (ETH) is still struggling at the $2,750 level. If it fails to stabilize above $2,750, the price might decline again.
Ethereum price faces important challenges
In the past few days, Ethereum saw a decent growth above the $2,500 resistance area, just like Bitcoin. ETH managed to break the $2,620 and $2,650 resistance levels. It managed to break the 23.6% Fib Retracement level of the decline between the $3,566 high and $2,099 low.
Finally, the buyers attempted to break the key $2,750 barrier but failed. The price even failed to test the $2,750 resistance and corrected some gains. The last two daily candles indicate an exhaustion of the bullish momentum in the short term.

Ethereum price daily chart | Source: ETH/USD on TradingView.com
Ethereum is slowly declining below the $2,650 level but it is still well above the 50-day simple moving average (blue line). More importantly, the price remains below a key bearish trend line with resistance at $2,850 on the daily chart.
The current price action suggests that the price could decline further below $2,600. An immediate support is near $2,550. The first major support is near $2,500. The next support is near $2,440 and a bullish trend line is connected on the same chart.
If the Ethereum price closes below $2,440, it could decline further towards the $2,320 support level. If the buyers fail to defend the $2,320 support, ETH might even drop to the $2,150 support level. The next important support is near $2,050.

Will ETH see new growth?
Conversely, Ethereum might remain stable above $2,600 or $2,440 and attempt a new growth. On the upside, the price might face resistance near $2,700. The first major resistance is at the $2,750 pivot level.
The next resistance is near the $2,850 level, the bearish trend line, and the 50%Fib retracement level of the upward move from the $3,566 high to $2,099 low. If the price breaks above $2,850, it could open the doors to $3,000.
The next hurdle could be located at the $3,220 and $3,250 levels. If ETH buyers push the price above the $3,250 resistance, there could be a strong growth. In such a case, the price could move up to the $3,550 level.
Overall, Ethereum price is struggling to stabilize above $2,750. If ETH breaks below $2,440, there could be a bigger decline towards $2,050 in the coming days.