$ETH /USDT Price Action Update: Recovery in Progress?
📊 Current Price: $3,309.86 (-0.20%)
🔼 24H High: $3,337.00
🔽 24H Low: $3,158.00
📈 24H Volume (ETH): 478,614.49
💵 24H Volume (USDT): $1.56B
Technical Snapshot
$ETH has bounced significantly from its 24-hour low of $3,158, reclaiming the $3,300 level. The bullish momentum is approaching resistance near $3,337, where sellers are likely to defend. Buyers need to push above this to sustain the uptrend.
Key Levels to Watch:
Immediate Support: $3,279
Major Support: $3,235
Immediate Resistance: $3,337
Major Resistance: $3,357
Potential Scenarios:
1️⃣ Bullish Continuation: A clean breakout above $3,337 could pave the way for ETH to retest $3,357 and beyond, signaling further upside potential.
2️⃣ Bearish Rejection: A failure to break $3,337 might see ETH testing the $3,279 support, with a deeper pullback possible toward $3,235.
Market Sentiment:
Ethereum's recovery is supported by Layer 1/Layer 2 developments, driving optimism in the community. However, cautious sentiment prevails as key resistance levels loom ahead.
Stay tuned for further updates!