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#ETHProspects After breaking through the $4,100 mark, Ethereum faced bearish pressure that caused a nearly 30% drop in its price. Let’s examine the future prospects for ETH. ETH logo on a blue or red background, with a bear and a blue bull with expressive eyes on either side. A graphic appears in the background. Ethereum (ETH) Price Situation Ethereum recorded a 70% increase in less than two months, pushing its price from $2,400 to $4,100. Unfortunately, this last level acted as resistance, leading to a decrease in its price of just under 30%. The price of ETH has reached a new low around $2,900. Thus, the price of Ethereum has validated a notable support area. This is particularly relevant as it is located around the first monthly pivot support, the 200-day moving average, and the 61.8% (Fibonacci level) retracement of its last increase. At the time of writing this text, the price of Ethereum is trading around $3,200. The cryptocurrency is operating in a significant volume area, highlighting the importance of maintaining its price above this level. Ethereum is currently in a short-term bearish trend. However, this decline could act as a simple retracement of the underlying bullish trend in the medium and long term. On the ETH dynamics side, it is not surprising that it has been revised downwards, although we can observe a gradual stabilization, suggesting the possibility of an upcoming recovery.
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