Based on the 4-hour Ethereum (ETH) chart the price appears to be consolidating near a key support zone between $3400 and $3500. This area has acted as a strong support level in the past, and with decreasing volume and potential bearish pressure, a retest of this support is likely in the short term.
Traders should monitor this zone closely for signs of a bounce or a breakdown, which could dictate the next direction. A confirmed rebound may push ETH back toward resistance at $3600–$3700, while a breach could lead to further downside toward $3200.
Traders should monitor this zone closely for signs of a bounce or a breakdown, which could dictate the next direction. A confirmed rebound may push ETH back toward resistance at $3600–$3700, while a breach could lead to further downside toward $3200.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.