Ethereum ($ETH ) is trading at $3,224.35, marking a 24-hour decline of 6.78%. The market shows bearish momentum, with RSI at 39 and MACD indicating continued downward pressure. ETH is also trading below its EMA of $3,493, signaling caution.
However, the $3,106 support level emerges as a critical zone for traders. If ETH holds and bounces from this level, a potential move toward $3,750 and even $4,111 could materialize. The $3,320 pivot point will be vital for confirming any bullish trend reversal.
For now, patience is key as the market eyes potential action at these crucial levels.
