Ethereum's price is climbing towards a crucial level that could act as a barrier, potentially leading to a price drop towards the initial support level. Let's dive into the key levels to watch! 📊
*Key Levels:*
- *Pivot:* $4,410.37 - a critical level that could determine the direction of ETH's price
- *1st Support:* $4,212.04 - the initial support level that could provide a bounce-back opportunity
- *1st Resistance:* $4,502.93 - a key resistance level that could cap ETH's upside potential
*Market Analysis:*
Ethereum's current price is around $4,366, with a 24-hour price change range of $4,289.96 to $4,489.98. The market cap stands at approximately $527 billion, with a 24-hour trading volume of $911.45 million ¹.
*What to Watch For:*
- A break above $4,502.93 could signal further upside potential
- A drop below $4,212.04 could lead to a significant price decline
- Keep an eye on the trading volume to confirm the trend
*Disclaimer:*
This is general market commentary and not financial advice. Trading cryptocurrencies involves substantial risk, and you could lose all your investment. Make sure you understand the risks and seek advice if needed ¹.
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