$ETH /USDT: Ethereum Edges Higher Amid Layer 1 Stability

Ethereum (ETH) is trading at $3,708.01, marking a 1.28% increase over the last 24 hours as market sentiment remains cautiously optimistic.

Key Metrics

24h High: $3,738.98

24h Low: $3,651.38

24h Volume (ETH): 405,563.83 ETH

24h Volume (USDT): $1.50B

Technical Overview

Resistance Levels: $3,738.98, $3,742.97

Support Levels: $3,684.46, $3,651.38

Market Analysis

Bullish Case: A sustained push above $3,738.98 could target the $3,750–$3,770 resistance zone.

Bearish Case: Failure to hold $3,684.46 support may result in a test of $3,650, with potential for deeper corrections.

Trading Strategy

Short-Term Traders: Look for breakout opportunities above $3,713.72, targeting $3,740, with a stop-loss near $3,684.

Long-Term Investors: Consider accumulating ETH during pullbacks into the $3,650–$3,670 range, targeting mid-term gains as Layer 1 ecosystems gain traction.

Market Sentiment

Ethereum's upward momentum reflects broader optimism in Layer 1 assets. Trading volumes and price stability suggest strong support, though traders should remain vigilant for volatility around key levels.

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