Ethereum (ETH) is currently trading at $3,661.63, down by 1.37% over the last 24 hours. After facing rejection near its daily high, ETH is now testing a critical support level around $3,660. A break below this level could lead to a decline toward the key psychological and technical support zone at $3,600.
To regain bullish momentum, ETH needs to reclaim $3,700, with potential resistance targets at $3,750 and $3,800. On the downside, if selling pressure increases and ETH breaks below $3,660, traders might see further downward movement, presenting opportunities for short positions. Given the current market volatility, managing risk carefully is essential for traders navigating this pivotal setup.