Ethereum (ETH/USDT) Price Action and Market Update

Ethereum's journey today has been a rollercoaster, and here's what traders need to know.

Current stats:

Current price: $3,253.33 (+0.54%)

24h high: $3,702.51

24h low: $3,101.90

24h volume: 1.59M ETH ($5.38B)

Price action highlights:

ETH is currently battling resistance at $3,450 after rebounding from its 24h low of $3,101.90.

Short-term support is forming near $3,200, with further downside risk at $3,100.

Key trends:

1. Bearish sentiment dominates the short term as ETH has dropped 11.61% in the past 24 hours, but intraday recovery hints at buyer momentum.

2. Significant trading volume (peaks at 50K ETH/hour) suggests strong market interest.

3. Momentum is beginning to shift as traders test key psychological levels at $3,250.

Timeframe performance:

7 days: -17.03 percent (bearish pullback across markets)

30 days: +3.53 percent (slow climb continues)

90 days: +27.92 percent (bullish rally from previous lows)

1 year: +46.17 percent (ETH remains strong on the yearly scale)

Targets for traders:

Short-term resistance: $3,450

Next bullish target: $3,500 (key breakout level)

Strong support zones: $3,200 and $3,100

Pro tip: Keep an eye on Layer 1 updates, as ETH often rallies with ecosystem developments. Watch the order book closely, as buy orders near $3,200 could signal the next bounce.

Will ETH surge past $3,500? Stay updated, trade smart, and capitalize on market opportunities.

Trade ETH/USDT now on Binance.

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