$ETH
🚨Ethereum Price Analysis🚨
Ethereum closed below the $3,500 support level, suggesting that short-term traders are taking profits. As of writing, ETH price trades at $3,478, declining over 4.18% in the last 24 hours.
The price has now dropped below the 20-day exponential moving average (EMA) at $3,636, a key resistance level to keep an eye on.
If it bounces strongly from current level, buyers may try to push ETH/USDT above $3,636. A successful move might send ETH price to $4,000, though sellers are expected to defend that level strongly.
If Ethereum holds below the 200-day EMA, it could drop to the 50% Fibonacci retracement level at $3,300, and possibly down to the 61.8% level at $3,000.