Ethereum Price Reaching $3,350: Can Key Support Levels Maintain Uptrend?



Ethereum (ETH) is testing $3,350, a major support level. Recent trading sessions have seen market players intently eyeing this price point to see whether ETH can retain its footing or fall lower.


Bullish and bearish forces will clash at $3,360, which might determine Ethereum's short-term price direction. Technical indicators will be used to examine ETH's price ramifications if it is rejected or breached.




Ethereum, with a market capitalization of $407 billion and a 24-hour trading volume of $11 billion, was down 1.62% at $3,387. In the last day, its market value fell 1.52% and trading volume rose 32.02%.


$3,360 Support: Hold or Break?


The 4-hour chart shows ETH falling approaching $3,360 and below the 100-day Simple Moving Average. The price is stabilizing just above this level.


The 4-hour Relative Strength Index (RSI) line has gone below 50% and may enter the oversold zone, suggesting Ethereum's price may break below this support level and continue its downturn.


ETH is trying to go below the 100-day SMA on the 1-day chart. ETH is still positive, but recent market behavior suggests it may fall more.


Finally, the 1-day RSI indicator's signal line has dipped below 50% and is approaching the oversold zone, indicating a negative trend. Based on price research and technical indications, the crypto asset may breach $3,360.


Ethereum's Future Beyond $3,350


Exploring ETH's prospects and tactics beyond $3,350 showed that if the price breaks below this level, it may challenge the $3,051 support level and then the $2,865 support level and other levels below.


ETH's price would rise toward $3,359 if the $3,350 support barrier is rejected. If the cryptocurrency breaks this support level, it may challenge $3,975 and potential higher levels.

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