$ETH #Ethereum price is currently at a critical juncture, with bulls fighting to defend the $3,703 support level. If this level holds, there's potential for a bounce-back, but a drop below could see the price plummet to $3,281 or even $2,513.
Key Support Levels:
- $3,703-$3,580: Critical support zone that bulls need to defend
- $3,281: Historical support level that could provide a bounce-back
- $2,513: Deeper support level that could be a long-term accumulation zone
Resistance Levels:
- $4,000-$4,200: Resistance zone that could trigger renewed bullish momentum if breached
- $4,630-$4,868: Higher resistance band that could be a target for a potential rally
Technical Indicators:
- RSI and MACD are neutral to slightly bearish, hinting at waning buyer strength
- Descending triangle pattern suggests a potential drop to $2,870 if support is breached
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Institutional Interest:
- Growing institutional interest in Ethereum ETFs and staking products could provide a boost
- Recent accumulation by Bitmine and other institutional players suggests growing conviction
Will Ethereum's bulls reclaim $4,000, or will the bears push the price toward $3,300? The coming days will be crucial in determining the market's direction .
Buy and trade here ๐#SmartInvesting