Ethereum (ETH) Price Analysis for April 5
ETH/USD
Over the past day, Ethereum (ETH) has experienced a decline of 2.53%.
On the hourly chart, ETH appears to have found support around the $3,237 mark. If the daily closing price remains above this level, we may witness a potential upward movement towards the $3,320 zone in the coming day.
Looking at the broader time frame, Ethereum has rebounded from the $3,214 level, suggesting potential bullish momentum. If buyers maintain control, we could see ETH aiming for the $3,350-$3,400 range by week's end.
However, the weekly chart presents a less optimistic outlook, with the bar trading near its low, signaling bearish sentiment in the midterm. It's premature to anticipate a rapid recovery in this scenario.
Overall, there remains a possibility of ETH testing the critical $3,000 zone in the near future.
At present, Ethereum is trading at $3,283.
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