Altcoins News
By Julie Binoche
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Ethereum Faces Renewed Selling Pressure. After attempting to extend its recovery beyond $3,650, Ethereum encountered stiff resistance and…
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Technical Structure Turns Cautious. The hourly chart reveals a bearish trend line forming with resistance near $3,550.
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Short-Term Support Levels to Watch. In the event of further weakness, Ethereum’s immediate support lies around $3,400, followed by a…
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Market Sentiment Remains Uncertain. Ethereum’s recent struggle comes amid mixed conditions across the broader cryptocurrency market.
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Key Resistance and Recovery Potential. For Ethereum to regain positive momentum, it must first reclaim the $3,500 level.
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Broader Outlook: Caution Dominates. Despite the short-term weakness, Ethereum’s long-term fundamentals remain strong.
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Conclusion: Bulls Must Defend $3,350 to Avoid Deeper Losses. Ethereum’s price is now at a critical juncture. The $3,350 support level will likely determine…
8 / 15
Ethereum (ETH) is once again showing signs of weakness after failing to sustain its momentum above the $3,550 level.
9 / 15
The decline gathered pace as Ethereum broke below $3,550 and later the $3,500 mark, both of which had served as short-term support levels.
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At press time, Ethereum trades near $3,470, slightly below the 100-hourly Simple Moving Average (SMA).
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The hourly chart reveals a bearish trend line forming with resistance near $3,550. This trend line continues to limit Ethereum’s recovery attempts.
12 / 15
If buyers succeed in pushing the price above $3,550, it could pave the way for another test of the $3,650 resistance zone.
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However, analysts caution that unless Ethereum manages to close above $3,550 with strong trading volume, the path of least resistance remains to the downside.
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In the event of further weakness, Ethereum’s immediate support lies around $3,400, followed by a stronger base near $3,360, which aligns with the 61.
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Should bearish momentum persist, deeper targets include the $3,240 and $3,200 support zones.
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