The impact of Ethereum is blocked! The trend will be full of challenges!
Ethereum (ETH) recently attempted to break above the key price level of $3,650, but failed on multiple attempts. Priced at over $3,360, it looks like a challenge.
After several failed attempts to hit $3,650, the price of Ethereum once fell below the $3,550 and $3,450 levels, and even touched the support level of $3,320 at the lowest. Although the price has rebounded since then, overall, there is still great pressure for Ethereum to continue to rise.
Market analysts generally believe that the direct resistance Ethereum now faces is around $3,400, and the key resistance is $3,450. Only by successfully breaking above $3,650 will Ethereum be likely to continue climbing towards higher prices. At present, the short-term trend of the market is not clear.
Ethereum is now facing downward pressure. For example, the hourly MACD is showing a bearish trend for Ethereum USD, and the RSI is also below the 50 level, which makes the market downside risk greater. The support at $3,320 is broken, and Ethereum is likely to fall deeper and possibly even hit lower key support levels.
