The Ethereum daily timeframe chart shows significant technical levels. The local high is approximately $4,093, with a downward-trending resistance line indicating a bearish trend from this peak.
The initial support is around the $3,440 level, represented by a yellow dotted line. The main support is identified by a white upward trend line at $3,100.
Ethereum is currently trading around the $3,500 level. A break below this level could lead to further declines.
POV: ETH must hold the current support level; if not, be prepared for an 11% drop.
Do your own research before investing.
Regards
Team Dexter.
The initial support is around the $3,440 level, represented by a yellow dotted line. The main support is identified by a white upward trend line at $3,100.
Ethereum is currently trading around the $3,500 level. A break below this level could lead to further declines.
POV: ETH must hold the current support level; if not, be prepared for an 11% drop.
Do your own research before investing.
Regards
Team Dexter.
Note
Ethereum is still holding the initial support level at $3400.
The support levels remain intact at $3400 and $3100.
I am expecting a bounce up to the resistance trendline at $3800.
Invalidation point: a close below $3400.
Do your own research before investing.
#ETH #Crypto
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.