BlackRock has filed an S-1 form for their Spot Ethereum ETF.
Ethereum's price dipped below $3,800 and is nearing the key support at $3,700, suggesting a potential rebound.
ETH has consolidated for nine consecutive days, indicating a prolonged battle between bears and bulls.
The $3,700 level has served as strong support, tested multiple times in the past nine days.
Currently, ETH's price is within the 0 to 0.23 Fibonacci retracement range. Breaking above this range could push Ethereum's value beyond $4,000.
According to Coingabbar Prediction, If the market stays above $3,700 support, bulls may gain momentum, aiming for ETH to reach $4,095 resistance in the coming weeks.
If bears dominate, ETH may break below $3,700 support, possibly declining to the next support at $3,400.
KEY LEVELS :
RESISTANCE LEVEL : $3,800-$3,900
SUPPORT LEVEL : $3,660-$3,560
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