Heres How Low ETH Can Go if $3.5K Fails to Hold Selling Pressure (Ethereum Price Analysis)
Ethereum has recently breached a significant resistance level, crossing the psychological milestone of $4K and achieving a new high for the year. However, this breakthrough was met with resistance, leading to a noticeable correction. The question that arises now is whether this correction is merely a temporary setback or the beginning of a broader reversal in the bullish trend. Ni Shayan Ang Pang-araw-araw na Tsart A thorough analysis of the daily chart indicates a prevailing bullish sentiment surrounding Ethereum, evident in a strong and sudden upward surge that surpassed the critical resistance at $4K. This surge reflects heightened interest from market participants in Ethereum, resulting in increased volatility. However, after briefly surpassing the crucial $4K resistance level, the price encountered intensified selling pressure, likely due to profit-taking among participants, leading to a significant decline toward the substantial support zone of around $3.5K. It seems likely that the market will find support in this region and initiate a fresh rally. However, in the event of a continued corrective retracement, Ethereums price is expected to find support around key levels within the Fibonacci retracement, specifically between the 0.5 ($3,181) and 0.618 ($2,966) levels. Pinagmulan: TradingViewAng 4-Oras na Tsart Further examination of the 4-hour chart confirms the presence of buyers in