Ethereum ETH is in the adjustment period, and key support is being tested

Market analysis

The current price of ETH is $3,878.28, with a 24-hour drop of 2.10%. Recently, Ethereum has failed to stabilize after breaking through $4,000, and there has been a pullback. The trading volume has dropped slightly. The RSI indicator shows that it is still in the bullish area, but the momentum has weakened. In the short term, the price may fluctuate around the current point.

Support and Resistance

Support

1. $3,850

2. $3,750

3. $3,650

Resistance

1. $3,950

2. $4,000

3. $4,100

Short-term trading strategy

Long strategy

• Entry: $3,850

• Add position: $3,750

• Stop loss: $3,650

• Take profit: $3,950, $4,000

Short strategy

• Entry: $3,950

• Add position: $4,000

• Stop loss: $4,100

• Stop profit: $3,850, $3,750

If ETH can stabilize at $3,850, it may test the $4,000 resistance again in the short term; but if it falls below $3,850, the correction may continue to $3,750 or even $3,650.

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