Ethereum price has significantly declined, focus on key support levels

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Recent trend overview

Ethereum (ETH) price failed to hold at $3,880, continuing the downward trend, breaking through the $3,800 and $3,680 levels, reaching a low of $3,543. Currently, the price is fluctuating around $3,600, still facing downward pressure in the short term.

Resistance and support analysis

Upper resistance

$3,670: The current short-term rebound resistance.

$3,800: Key pressure level connecting the trendline.

$3,880: Major resistance area, a breakthrough may lead to a rise to $4,000 or even $4,150.

Lower support

$3,550: Short-term support level, the price is currently consolidating in this area.

$3,500: Major support, if lost, may trigger a deeper decline.

$3,450 and $3,350: Key downside target levels. Further breakdown may test the deep support at $3,220.

Future trend outlook

Rebound conditions: If the price breaks through the $3,880 resistance, it is expected to return to the upward channel, targeting $4,000 and higher positions.

Downward risk: If the $3,500 support cannot be held, it may trigger selling pressure, and the price could test the lows of $3,350 or even $3,220.

In the short term, Ethereum price fluctuations are significant; investors should pay attention to the breakthrough of $3,880 and the strength of the $3,500 support. Aggressive investors may combine market signals for high sell and low buy, while conservative investors should wait for price stabilization before entering. The current market trend is bearish, and it is advisable to avoid unnecessary risk operations.

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