Ethereum Falls Below $3,532, Targets $3,400 Support
Ethereum price dropped below $3,532 after slipping over 3% in 24 hours.
The coin trades near $3,500 and failed to clear the $3,654 resistance on the daily chart. Hourly data shows a break of key support at $3,532, with next floor levels at $3,474 and $3,400.
A daily close above $3,532 could spark a rally toward $3,700. Conversely, a break of $3,400 support may lead to a drop toward $3,000.
Mid-term indicators show no reversal signals, suggesting limited volatility. Ethereum price action remains range-bound. Traders should monitor $3,400 support and $3,532–$3,654 resistance for market direction.
Bearish
Ethereum’s break below key support at $3,532 and failure to breach the $3,654 resistance signal downside pressure. In the short term, traders may target the $3,400 floor, with a further drop to $3,000 if this level fails. Mid-term indicators show limited bullish signals, and volatility remains subdued. While a rally is possible on a decisive close above $3,532, current price action favors bears. Overall, the outlook leans bearish as sellers dominate near-term trading.