Ethereum Market Analysis: Key Observation Points After the Pullback

Current Trend

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

Key Resistance

$4000 is the current major resistance 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 bull market pattern. If Ethereum can effectively maintain the $3080 support level and successfully break through $4000, the bullish trend is expected to resume, and it may attempt to reach historical highs thereafter. $ETH #ETH🔥🔥🔥🔥