Ethereum price analysis
Ethereum has been struggling to rise and hold above immediate resistance at $3,679, which suggests that bears are trying to gain the upper hand.
Bears will try to take advantage of this situation and push the price below the 50-day moving average ($3,386). If they do, the sell-off is likely to intensify and the ETH/USDT pair could slip to $3,250 and then to the key support at $3,056.
If the bears want to arrest the decline, they will have to push the price above $3,679. This could open the door to a retest of $4,000. This level could once again act as a significant hurdle, but if the bulls prevail, the pair could reach $4,500.
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