Bears are returning to the game, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has fallen by 4.38% since yesterday.
On an hourly timeframe, the price of Ethereum hovers close to its immediate support level around $3,532. Should the daily price end up near this point, it’s probable that the correction will persist towards the $3,500 region.
On the daily chart, the trend appears to be bearish due to the price drop following an unsuccessful breakout at the $3,720 mark. If today’s candle ends close to its lowest point, traders might see a potential test of the $3,400-$3,450 region in the near future.
Looking at the midterm perspective, the growth momentum seen following the bullish bar’s close hasn’t been sustained by the buyers.
Should the current circumstances persist until the end of the week, it’s plausible that we might see a test at around the $3,200 level.
Ethereum is trading at $3,541 at press time.
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2025-01-07 18:54