Ethereum (ETH) is currently facing some bearish pressure, with its price attempting to break below the minor bearish channel’s support line. A test of the bullish channel’s support at $3,770.00 could be in sight. It is crucial for Ethereum to hold above this level to maintain the overall positive market scenario and avoid a potential decline. If Ethereum manages to stay above $3,770.00, the bullish outlook remains intact.
On the upside, a breach of $4,010.00 would significantly reinforce the positive trend, with the next key target set at $4,090.00. This would mark the continuation of the bullish momentum, with further upside potential.
Expected Trading Range (Today):
Support: $3,780.00
Resistance: $4,050.00
Trend Forecast: Bullish (as long as ETH holds above $3,770.00 and breaks $4,010.00).
Ethereum’s price movement in the coming days will largely depend on how it responds to these critical support and resistance levels. If the price holds strong above support, the bullish scenario will likely continue.
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