Ethereum Under Pressure : Will ETH Fall Further Below $3,300?
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Key Highlights :
Current Price : Hovering near $3,300 with bearish momentum.
Critical Supports : $3,300, $3,250, $3,220, and $3,110.
Risk Zone : A break below $3,300 could trigger further downside movement.
Technical Analysis :
Bearish Momentum :
Ethereum is struggling to maintain its footing above $3,300.
A decisive move below this level could initiate a sell-off toward the next key supports.
Support Levels to Watch :
Immediate : $3,300 (current pivot).
Secondary : $3,250 and $3,220 (short-term targets).
Critical : $3,110, a make-or-break zone for ETH.
Resistance Levels :
Immediate : $3,380, followed by $3,450 for trend reversal.
Pro Tip for Traders :
Monitor the $3,300 level closely. If the price stabilizes above it, look for consolidation or reversal signs before taking any long positions.
Advice for Investors :
For Short-term Traders :
Avoid entering new long positions unless the price reclaims $3,380 with volume confirmation.
Consider short trades with targets near $3,250 and $3,220 if bearish momentum continues.
For Long-term Investors :
Watch for a deeper pullback near $3,110 to accumulate ETH at discounted levels.
Maintain a cautious outlook until ETH shows clear reversal signs.
Conclusion :
Ethereum is showing clear bearish signs, with the price teetering near the $3,300 support level. If this level breaks, ETH could decline further to $3,250 and potentially $3,110. Short-term traders should tread carefully, while long-term investors can consider pullbacks as buying opportunities.