#Ethereum# fell under selling pressure after failing to break the resistance of $4,670 last week. Especially, the trade tensions between the US and China have led to sharp sell-offs in the crypto markets by reducing risk appetite. During this process, $ETH pulled back to the support level of $3,450. As the weekend approached, these levels were seen as buying opportunities, and Ethereum attempted a recovery, rising back to around $3,980. However, this move does not yet signal a permanent reversal. Currently, the $3,980 zone is in the most critical support position. If buyers can maintain this level, the resistances of $4,250 and then $4,670 may be tested again. If daily closes above $3,980 occur, the target of $5,000 could be back on the agenda. Otherwise, the risk of a pullback towards the levels of $3,450 or even $3,000 persists. Although technical indicators suggest a bottom formation in the short term, the overall trend remains weak. In short, Ethereum is currently at a critical decision point.

ETH1.37%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)