Ethereum (ETHUSD) has experienced considerable declines today, breaking below the $3,360.31 mark and falling sharply to the current level of $3,132.80. This movement suggests a shift back into a bearish correction phase, with potential further declines targeting $2,905.30.
Given the current negative momentum, a bearish trend is anticipated for today. Should Ethereum manage to reclaim and hold above $3,360.31, it may initiate recovery efforts and revert to its previous bullish trend.
The expected trading range for today is between a support level of $3,040.00 and a resistance level of $3,300.00.
Trend Forecast: Bearish
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