Ethereum (ETHUSD) Price Analysis
Current Scenario
Ethereum price (ETHUSD) continues its decline, reaching the threshold of the anticipated target at $3360.31. Breaking this level is expected to pave the way for further declines, with the next negative target set at $3132.80. The price movement within a bearish channel supports the likelihood of this expected break and subsequent decline.
The bearish trend is expected to remain dominant in the intraday and short-term basis. However, if the price fails to break $3360.31, a recovery attempt could be initiated, targeting $3546.00 and potentially extending to $3641.82 before any new decline attempt.
Expected Trading Range
The expected trading range for today is between $3280.00 support and $3530.00 resistance.
Trend Forecast
Bearish
Related topics: