Ethereum Price Analysis

Ether fell from $3,977 on May 27, which shows that the bears are fiercely defending the $4,000-$4,100 resistance zone.

The first support on the downside is the breakout level of $3,730.

If the bulls turn this level into a support,

the ETH/USDT pair will once again try to break out of the $4,100 resistance.

If this level is broken, the pair could rally to $4,868.

On the contrary, if the price continues to move lower and breaks below $3,730,

it will indicate that the bears are trying to make a comeback.

The pair could then fall to the 20-day EMA ($3.537) and then to $3.050.

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