$ETH price has been trending downward, as indicated by the lower highs and lower lows visible on the chart.

A potential consolidation phase is forming as the price hovers near the $3,659 support level.

Trading Conclusion

Bearish Bias: Current indicators suggest a slight bearish trend in the short term.

Action: Traders should monitor the $3,659 support level for potential breakdowns or rebounds. A break above $3,703 could signal bullish momentum.

Recommendation: Conservative traders might wait for a confirmed breakout or breakdown, while aggressive traders can use the $3,659-$3,703 range for scalping opportunities.

Support and Resistance

Immediate Support: $3,659.00

Next Support: $3,622.10 (24H Low)

Immediate Resistance: $3,679.57 (MA 25)

Next Resistance: $3,703.38

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