🚀 #EtherUpdate: Ether (ETH) has just experienced a significant drop, falling below the 50-day SMA at $3,414 on April 2nd, hinting at a possible retest of the March 20th low at $3,056. 📉

📊 Looking at the daily ETH/USDT chart, we see that the 20-day EMA is declining and the RSI is just below the midpoint, signaling that bears are in control. If ETH drops below $3,056, the market may witness stronger selling pressure, pushing prices toward $2,700. 😟

💪 For the bulls, it's crucial to act swiftly to push the price back above the moving averages, especially if they aim to stabilize the range between $3,056 and $3,679. A strong breakout and close above $3,679 would indicate that the bulls are back in the lead, potentially paving the way for a rise to $4,100. 🚀

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