Ether price analysis

The failure to rise above $3,730 may have increased selling, pulling Ether ETHtickers down $3,488 below the 20-day EMA ($3,655) on June 11.

The bulls aggressively bought the dip near the 50-day SMA ($3,388), signaling strong demand at lower levels. Buyers will make one more attempt to overcome the obstacle at $3,730. If they do that, the ETH/USDT pair may rise to $3,887 and later to $3,977.

Conversely, if the price turns down from $3,730, it will indicate that the bears are trying to flip the level into resistance. The pair may turn down and retest the 50-day SMA. A break below this level could sink the pair toward $2,850.