Ethereum’s recent price action has been nothing short of dramatic. After a sharp drop to around 3353 earlier today, a small rebound took the price to 3556, but the overall trend remains firmly bearish. Much like Bitcoin, Ethereum faces significant resistance overhead, making any meaningful upward movement in the near term highly uncertain.

Looking at the hourly chart, the MACD is showing growing bearish momentum, and the KDJ lines are diverging downward—both signals suggest more room for a potential drop. Support at the 3450 level is crucial; a break below that could open the door for further declines, with 3300 being the next major target.

For traders, this is a clear signal to be cautious. A short position can be considered above 3580, but risk management is key—tight stop-loss orders should be in place, with eyes set on the 3300 mark as the next target. Watch closely; the market is testing key levels and could swing either way.

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