Ethereum Dey Falter for $3,700, Eye $3,500 Support
Ethereum price find support around $3,400 and rally pass $3,700, but bulls no fit keep their gains. For the hourly chart, ETH dey trade under the 100-hourly moving average at $3,600 after e break one bullish trend line for $3,620. Main resistance levels dey for $3,700, $3,750 and $3,820, and if e clear pass $3,820, e go open road to $4,000 and $4,120. If price no fit reclaim $3,620, initial support dem be $3,550 and $3,510, then $3,420 and $3,350. Technical indicators like bearish MACD and RSI under 50 dey show say short-term downside risk dey. Traders suppose dey watch support for $3,500 and resistance near $3,700 to sabi the next big move for Ethereum price.
Bearish
Ethereum no fit hold for gain pass $3,700, plus e dey trade under 100-hour SMA and e break important trend line, e mean say short time bearish momentum dey. MACD dey negative area and RSI dey below 50, e resemble the last time for July wen ETH reverse after e test Fibonacci resistance levels. If support for $3,550 hold, neutral consolidation fit follow, but if e break under $3,510, the decline fit worsen go reach $3,350. But if e break strong pass $3,750 and $3,820, e go flip the bearish outlook, push Ethereum go $4,000. Overall, signals so far dey show say short term bias na bearish, but long term potential still dey if key resistance break.