Ethereum (ETH) faces an important test: Can it hold at $3,360?
Recently, the price of Ethereum has been hovering around $3,360. This is an important indicator, and market participants are closely monitoring how ETH will behave next. The short-term price dynamics depend on whether it manages to maintain its position or whether there will be a further decline.
The $3,360 level is where bullish and bearish forces collide. The outcome of this confrontation will determine the direction of Ethereum price movement in the near future. In this article we will look at possible scenarios using technical indicators.
At the time of writing, the price of Ethereum is $3,370, down 1.62% from its previous value. The market capitalization exceeded $407 billion, and trading volume in the last 24 hours exceeded $11 billion.
Market capitalization decreased by 1.52%, while trading volume increased by 32.02% compared to the previous day.
If Ethereum price fails to hold at the $3,360 support level, it could start rising and reach the $3,659 resistance level. If the asset can break through this support level, it could continue to move higher and test the $3,975 resistance level and possibly higher levels.
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