Ethereum’s price is currently displaying a bearish trend, struggling to stay above the $3,840 support level. If the price drops below $3,700, we could see a further decline in ETH with increased bearish momentum.
In recent trading sessions, Ethereum has continued its downward trajectory, testing the critical $3,700 support zone. The failure to reclaim the $3,840 level has put downward pressure on the price, indicating a potential bearish trend.
As the price hovers below $3,840 and the 100-hourly moving average, investors should closely monitor the market for any significant break below $3,700, which could signal a deeper correction in Ethereum’s price.
It is important for traders and investors in the crypto and NFT space to stay informed about market movements and key support levels to make well-informed decisions in this volatile industry. Keeping a close eye on price action and technical indicators can help navigate the ever-changing landscape of the crypto market.
