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Ethereum (ETH) Price Analysis

Ethereum (ETH) also fell sharply this week as the cryptocurrency market crashed. ETH had a fairly bullish start last week, falling nearly 2% to close at $3,645. On Tuesday, sellers maintained control, with ETH falling 0.76% to close at $3,617. Despite facing considerable selling pressure, ETH recovered somewhat on Wednesday, rising more than 6% to break $3,700 and close at $3,844. ETH faced huge volatility on Thursday as buyers and sellers struggled to establish control. As a result, ETH fell to an intraday low of $3,644, rose to an intraday high of $3,957, and then closed at $3,787 after falling 1.48%.

The price recovered on Friday, breaking through $4,000 and reaching an intraday high of $4,093. However, buyers lost momentum after reaching this level, and ETH eventually closed at $4,003, up nearly 6%. As sellers were active at this level, ETH fell slightly on Saturday, falling below $4,000 and closing at $3,999. On Sunday, sellers tried to lower the price, and ETH fell to a low of $3,924. However, it recovered from this level and closed at $4,007 with a small increase. ETH faced huge selling pressure at the beginning of the week due to the market crash. As a result, ETH fell to an intraday low of $3,504 due to a significant increase in selling pressure. However, buyers supported the price from this level and ETH eventually closed at $3,716, down more than 7%. ETH is up slightly on the current trading day as both buyers and sellers look to establish control.

If buyers maintain control, ETH could break through the $3,800 mark and push towards $4,000. On the other hand, if sellers regain control, ETH could drop to $3,600 or $3,500.