🔥🔥🔥 $ETH Price Struggles for Comeback: Will Bulls Prevail?
Ethereum Price Update: Key Levels to Monitor
Current Price: $3,403
- Ethereum is stabilizing after slipping below $3,450. A rebound is possible if it clears the immediate resistance at $3,445.
Key Insights
1. Recent Decline: ETH fell below $3,450 and $3,400 but found support above $3,200, signaling potential recovery.
2. Trend Break: A break above the bearish trendline at $3,300 indicates a chance for upward movement.
3. Resistance in Focus: The $3,445 level aligns with the 61.8% Fib retracement from the $3,553 high to the $3,220 low and poses the first challenge.
Support and Resistance Levels
1.Support Levels:
- $3,300: Immediate support to watch.
- $3,220–$3,200: Critical zone holding recent lows.
- $3,120 and $3,050: Deeper supports if selling pressure intensifies.
2. Resistance Levels:
- $3,445: Key barrier for a recovery.
- $3,500: A major hurdle for bullish momentum.
- $3,550–$3,650: Breakout zone for stronger gains.
Technical Indicators
- #MACD : Bearish momentum is fading, signaling potential consolidation.
- RSI: Above 50, indicating recovery prospects.
Outlook
With Ethereum priced at $3,403, breaking $3,445 and $3,500 could push it toward $3,550 or higher. However, a drop below $3,300 may test the $3,200 support, with further declines targeting $3,120 or lower. Traders should monitor these levels for short-term direction.
