$ETH Current Market Overview

Ethereum ($ETH ) is trading at $3,628.96, reflecting a minor dip of 0.24% in the past 24 hours. The price movement has stayed within the range of $3,554.32 (24h low) and $3,760.00 (24h high), showing consolidation within a tight range.

Key Levels to Watch

Support Levels: $3,600.00, $3,554.00

Resistance Levels: $3,700.00, $3,760.00

Technical Indicators

1-Hour Chart: ETH is hovering near the lower Bollinger Band, indicating potential oversold conditions. If it breaks below $3,600.00, expect further downside pressure.

RSI (1H): 44, suggesting neutral-to-bearish momentum.

24H Volume: $2.65 billion, indicating strong interest, though sellers currently dominate.

Short-Term Targets

Bullish Scenario: If ETH breaks above $3,700.00, the next target is $3,760.00. A sustained move beyond this level could push ETH toward $3,850.00.

Bearish Scenario: Failure to hold $3,600.00 may lead to a retest of $3,550.00.

Trading Strategy

Long Position: Consider entering near $3,600.00 with a target of $3,700.00 and stop-loss at $3,550.00.

Short Position: If ETH fails to reclaim $3,700.00, short with a target of $3,550.00 and stop-loss at $3,750.00.

Keep an eye on BTC price movements and macroeconomic factors, as they could heavily influence ETH's trajectory.

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