Ethereum's decline is hard to stop, $3,300 is in danger! Is the market waiting for a "big event"?
The price of Ethereum has once again fallen below the key support level of $3,450, approaching the $3,300 mark. After the $3,550 resistance was repeatedly tested, the bulls are obviously unable to fight back, and the bearish sentiment in the market is spreading.
To make matters worse, the technical signals continue to deteriorate: breaking below the key moving average, the trend line is lost, and the Fibonacci retracement level is gradually broken. If the $3,300 support cannot be maintained in the short term, ETH may usher in a deeper adjustment, and the target may be $3,250 or even $3,110.
However, the market has never lacked surprises. If the bulls can counterattack against the trend in the $3,420 area, the price will return to above $3,500, or even break through the $3,550 resistance, which may ignite a new round of upward momentum. Is it a deep drop or a reversal? Everything is in front of us!
Follow Brother Tang's analysis closely, and you will be one step ahead every time the market changes, and see deeper and farther!
