Ethereum Trend Deep Insight😉

For Ethereum, the key level we need to focus on right now is $3550, which is considered an important defensive line. Once it breaks, the market is likely to turn bearish.🥳

Currently, Ethereum is in an upward phase. So where will it head next?

We use Fibonacci tools to explore its key resistance levels. After some analysis, we find that the next key resistance level is around $3720.🤪🤪

Further observation of the concentrated distribution of chips shows that interestingly, when the price breaks through $3718, which is close to $3720, a large "vacuum zone" of chips appears above.

This means that above this area, resistance is relatively low. However, from another perspective, if the market changes later, the lack of chip support here could easily create a significant downside space.

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