A long position in Ethereum was liquidated at $3,368.47, indicating a notable market movement. $ETH
Support and Resistance Levels:
Support:
$3,200: A recent support zone.
$2,950: Aligns with the 200-day moving average.
Resistance:
$3,580: Immediate resistance.
$3,700: A higher resistance level.
Recommendation:
Given the current price near $3,387, which is between the identified support and resistance levels, the market may be experiencing consolidation.$ETH
Action:
Buy: If the price sustains above $3,580, it could indicate bullish momentum.
Sell: If the price falls below $3,200, it may suggest a bearish trend.
Note:
Cryptocurrency markets are highly volatile. It's essential to conduct thorough research and consider your risk tolerance before making trading decisions.
