As of 6 AM on November 12, Ethereum (ETH) is trading around $3,437, down 3.42% in the past 24 hours. The second-largest cryptocurrency has faced notable selling pressure, falling from a recent high of $3,648 reached yesterday morning.


Currently, ETH is hovering just above the critical $3,400 support level. A breakdown below this point could see the price test lower levels around $3,350 and $3,300. However, technical indicators suggest that the Relative Strength Index (RSI) has entered the oversold zone, which often signals a potential short-term rebound.


If Ethereum manages to hold above $3,400, a recovery toward the $3,480–$3,500 resistance zone could occur. On the flip side, if bearish momentum continues and $3,350 fails to hold, deeper downside targets could open.


Key Levels to Watch:



  • Support: $3,400 → $3,350 → $3,300


  • Resistance: $3,480 → $3,520 → $3,580


Trading Strategy:



  • For Longs: Consider a small position near $3,400, with a stop loss if the price falls below $3,350.


  • For Shorts: Short entries could be taken near $3,480, with a stop loss above $3,520 if ETH fails to reverse.


Overall, Ethereum’s short-term trend remains cautious, with traders closely watching whether the $3,400 zone can hold and spark a relief rally. A decisive move either way could set the tone for the next leg of ETH’s price action this week.


#Ethereum #ETH #CryptoAnalysis #ETHUSDT #CryptoTrading