Ethereum Market Analysis: Key Observations After the Pullback

Current Trend

Ethereum has recently seen a significant decline after pulling back from 4000 USD, with a maximum drop of 24%. Currently, the short-term support level is around 3080 USD. Although the bullish support line still has a 6.7% margin, the overall upward trend has been somewhat damaged.

Key Resistance

4000 USD is the current main pressure area. As of now, Ethereum has not been able to successfully hold this position in the daily closing price.

Future Outlook

The short-term pullback has limited impact on the long-term bullish pattern. If Ethereum can effectively maintain the 3080 USD support level and successfully break through 4000 USD, the bullish trend is expected to restart, potentially aiming for new historical highs.