Ethereum’s price (ETHUSD) remains under negative pressure, settling below the $3425.50 level, and is currently facing resistance from the EMA50. This suggests that further downside movement is likely, with the first target at $3222.00. A break below this level could lead to a deeper correction, potentially pushing the price towards $3017.30.
For the bearish trend to continue, Ethereum must stay below the $3510.00 mark. A breach of this level would signal a potential reversal, with the price shifting upward and targeting $3680.00 as the next resistance.
The expected trading range for today is between $3230.00 support and $3500.00 resistance.
Trend Outlook: Bearish
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