Ether price prediction
$ETH is taking support in the zone between the 50% Fibonacci retracement level of $3,422 and the 61.8% retracement level of $3,300.
The relief rally is expected to face selling at the 20-day SMA ($3,652), but if the bulls prevail, the ETH/USDT pair could ascend to $3,941 and eventually to $4,094. Sellers are expected to mount a strong defense at $4,094.
Conversely, if the price turns down from the 20-day SMA and breaks below $3,354, it indicates that the bulls are losing their grip. That increases the risk of a drop to the 50-day SMA ($3,013).