Ethereum Falls Below $4,400 on OKX; Technical Support Holds
On August 16, Ethereum slipped below $4,400 on OKX, trading at $4,394.48 after a 0.8% intraday decline. This pullback highlights increased crypto market volatility as traders balance profit-taking ahead of network upgrades with bullish sentiment. Despite the drop, technical indicators remain supportive, with key moving averages holding above current levels. Traders should monitor volume and price action around the $4,350 support level for potential entry points. Overall, the dip underscores Ethereum’s volatility and may offer short-term buying opportunities.
Bullish
Although Ethereum dipped below $4,400 on OKX with an intraday decline of around 0.8%, key technical indicators and moving averages remain supportive above current levels. The pullback has intensified market volatility, but it also highlights a clear support zone at $4,350. Traders monitoring volume and price action at this level could find attractive short-term entry points. The balanced mix of profit-taking and bullish sentiment ahead of network upgrades suggests a likely rebound, making the overall impact on Ethereum price mildly bullish in both the short and medium term.