Ethereum Market Analysis: Key Observations After the Pullback
Current Trend
Ethereum has recently dropped significantly from the pullback level of $4000, with a maximum decline of 24%. The current short-term support level is at $3080, and while there is still a bull market support line of over 6.7%, the overall upward trend has been disrupted.
Key Resistance
$4000 is a key pressure zone, and there has yet to be a daily closing price successfully above $4000.
Future Outlook
The short-term pullback has little impact on the long-term bull market trend. If the support level can be maintained and $4000 is broken, a bullish trend is expected to begin, with subsequent targets aiming for new highs.
